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# A circus earned \$150,000 in ticket revenue by selling 1,800

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SVP
Joined: 06 Sep 2013
Posts: 1573
Concentration: Finance
A circus earned \$150,000 in ticket revenue by selling 1,800  [#permalink]

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18 Sep 2013, 16:45
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70% (00:54) correct 30% (03:38) wrong based on 14 sessions

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A circus earned \$150,000 in ticket revenue by selling 1,800 VIP and Standard tickets. They sold 25% more standard tickets than VIP tickets. If the revenue from Standard tickets represents a third of the total ticket revenue, what is the price of a VIP ticket?
Math Expert
Joined: 02 Sep 2009
Posts: 58335
Re: A circus earned \$150,000 in ticket revenue by selling 1,800  [#permalink]

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18 Sep 2013, 16:52
1
jlgdr wrote:
A circus earned \$150,000 in ticket revenue by selling 1,800 VIP and Standard tickets. They sold 25% more standard tickets than VIP tickets. If the revenue from Standard tickets represents a third of the total ticket revenue, what is the price of a VIP ticket?

V + 1.25V = 1,800 --> V = 800.

The revenue from VIP tickets = 2/3*\$150,000 = \$100,000.
The price of a VIP ticket \$100,000/800.
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Re: A circus earned \$150,000 in ticket revenue by selling 1,800  [#permalink]

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18 Sep 2013, 16:58
jlgdr wrote:
A circus earned \$150,000 in ticket revenue by selling 1,800 VIP and Standard tickets. They sold 25% more standard tickets than VIP tickets. If the revenue from Standard tickets represents a third of the total ticket revenue, what is the price of a VIP ticket?

Dear jlgdr,
I'm also happy to help with this problem.

First, let's tackle ticket numbers, and ignore the prices.
V = # of VIP tickets
S = # of standard tickets.

"They sold 25% more standard tickets than VIP tickets." This means:
S = 1.25T
Here, I am using a multiplier to represent the percent increase. See:
http://magoosh.com/gmat/2012/understand ... -the-gmat/

S = 1.25T = (5/4)*T

T = (4/5)*S

S + T = 1800

S + (4/5)*S = 1800

(9/5)*S = 1800

(1/5)*S = 200

S = 1000

V = 800

So, a thousand standard tickets were sold. Put that piece of info on hold for a moment. Now, the financial info.

"A circus earned \$150,000 in ticket revenue .... the revenue from Standard tickets represents a third of the total ticket revenue."
One third of \$150,000 is \$50,000. That's the revenue from standard tickets only. Therefore, revenue from VIP tickets is \$100,000.

We sold 800 VIP tickets for \$100,000, so each one must have cost 100,000/800 = 1000/8 = 125.

VIP tickets cost \$125.
FWIW, standard tickets cost \$50.

Does all this make sense?
Mike
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Mike McGarry
Magoosh Test Prep

Education is not the filling of a pail, but the lighting of a fire. — William Butler Yeats (1865 – 1939)
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Joined: 06 Sep 2013
Posts: 1573
Concentration: Finance
Re: A circus earned \$150,000 in ticket revenue by selling 1,800  [#permalink]

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21 Sep 2013, 08:43
mikemcgarry wrote:
jlgdr wrote:
A circus earned \$150,000 in ticket revenue by selling 1,800 VIP and Standard tickets. They sold 25% more standard tickets than VIP tickets. If the revenue from Standard tickets represents a third of the total ticket revenue, what is the price of a VIP ticket?

Dear jlgdr,
I'm also happy to help with this problem.

First, let's tackle ticket numbers, and ignore the prices.
V = # of VIP tickets
S = # of standard tickets.

"They sold 25% more standard tickets than VIP tickets." This means:
S = 1.25T
Here, I am using a multiplier to represent the percent increase. See:
http://magoosh.com/gmat/2012/understand ... -the-gmat/

S = 1.25T = (5/4)*T

T = (4/5)*S

S + T = 1800

S + (4/5)*S = 1800

(9/5)*S = 1800

(1/5)*S = 200

S = 1000

V = 800

So, a thousand standard tickets were sold. Put that piece of info on hold for a moment. Now, the financial info.

"A circus earned \$150,000 in ticket revenue .... the revenue from Standard tickets represents a third of the total ticket revenue."
One third of \$150,000 is \$50,000. That's the revenue from standard tickets only. Therefore, revenue from VIP tickets is \$100,000.

We sold 800 VIP tickets for \$100,000, so each one must have cost 100,000/800 = 1000/8 = 125.

VIP tickets cost \$125.
FWIW, standard tickets cost \$50.

Does all this make sense?
Mike

Makes perfect sense!
Thanks Mike!
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Re: A circus earned \$150,000 in ticket revenue by selling 1,800  [#permalink]

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25 Jan 2014, 04:33
The question says They sold 25% more Standard tickets than V.I.P. tickets.

Does this not mean,

Total No. of Standard tickets sold = (Total No. of VIP tickets sold) + 0.25(Total No. of VIP tickets sold)

But your solutions show it as Total No. of Standard tickets sold = 0.25(Total No. of VIP tickets sold)

In other problem I was working on, it said something like - "Mary salary is \$100 and Mercy's is 25% more than Mary's salary." and I translated it to:

Mercy's salary = 100 + 0.25(100) = 125

What I am missing?
Math Expert
Joined: 02 Sep 2009
Posts: 58335
Re: A circus earned \$150,000 in ticket revenue by selling 1,800  [#permalink]

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26 Jan 2014, 06:12
flower07 wrote:
A circus earned \$150,000 in ticket revenue by selling 1,800 VIP and Standard tickets. They sold 25% more standard tickets than VIP tickets. If the revenue from Standard tickets represents a third of the total ticket revenue, what is the price of a VIP ticket?

The question says They sold 25% more Standard tickets than V.I.P. tickets.

Does this not mean,

Total No. of Standard tickets sold = (Total No. of VIP tickets sold) + 0.25(Total No. of VIP tickets sold)

But your solutions show it as Total No. of Standard tickets sold = 0.25(Total No. of VIP tickets sold)

In other problem I was working on, it said something like - "Mary salary is \$100 and Mercy's is 25% more than Mary's salary." and I translated it to:

Mercy's salary = 100 + 0.25(100) = 125

What I am missing?

Which solution are you referring to?

They sold 25% more standard tickets than VIP tickets --> {Standard} = 1.25*{VIP}.
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Posts: 13077
Re: A circus earned \$150,000 in ticket revenue by selling 1,800  [#permalink]

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08 Oct 2018, 22:23
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Re: A circus earned \$150,000 in ticket revenue by selling 1,800   [#permalink] 08 Oct 2018, 22:23
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