Events & Promotions
|
|
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Sep 2601:00 PM EDT
-04:00 PM EDT
Top scores are possible when you enroll in a powerful GMAT course, taught live online + 6 months access to TTP OnDemand video courses included. Class starts Saturdays Sept. 26, 2026 - Dec. 19, 2026, 1:00pm-4:00pm ES
Sep 2911:00 AM EDT
-01:00 PM EDT
" Description: Top scores are possible when you enroll in a powerful GMAT course, taught live online + 6 months access to TTP OnDemand video courses included! Class starts Tues/Thur Sept. 29, 2026 - Dec. 3, 2026, 11:00am-1:00pm EST
03 Jun 2026, 15:45
Kudos
Bookmarks
B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
72% (02:04) correct
28%
(02:25)
wrong
based on 120
sessions
History
Date
Time
Result
Not Attempted Yet
A concert venue’s ticket revenue increased by 15% from 2023 to 2024, while its operating costs increased by 10% over the same period. If net income is defined as ticket revenue minus operating costs, by what percent did the venue’s net income increase from 2023 to 2024?
(1) The venue’s net income in 2023 was $120,000.
(2) In 2023, the venue’s ticket revenue was twice its operating costs.
(A) Statement 1 alone is sufficient, but statement 2 alone is not.
(B) Statement 2 alone is sufficient, but statement 1 alone is not.
(C) Both statements together are sufficient, but neither alone is sufficient.
(D) Each statement alone is sufficient.
(E) Neither statement is sufficient, even when combined.
(1) The venue’s net income in 2023 was $120,000.
(2) In 2023, the venue’s ticket revenue was twice its operating costs.
(A) Statement 1 alone is sufficient, but statement 2 alone is not.
(B) Statement 2 alone is sufficient, but statement 1 alone is not.
(C) Both statements together are sufficient, but neither alone is sufficient.
(D) Each statement alone is sufficient.
(E) Neither statement is sufficient, even when combined.
Experience GMAT Club Test Questions
Yes, you've landed on a GMAT Club Tests question
Craving more? Unlock our full suite of GMAT Club Tests here
Want to experience more? Get a taste of our tests with our free trial today
Rise to the challenge with GMAT Club Tests. Happy practicing!
M47-183
10 Jun 2026, 02:45
Kudos
Bookmarks
GMAT Club Official Solution:
A concert venue’s ticket revenue increased by 15% from 2023 to 2024, while its operating costs increased by 10% over the same period. If net income is defined as ticket revenue minus operating costs, by what percent did the venue’s net income increase from 2023 to 2024?
Let R be the venue’s ticket revenue in 2023, and let C be its operating costs in 2023.
The net income in 2023 was R - C
The net income in 2024 was 1.15R - 1.10C
The increase in net income was (1.15R - 1.10C) - (R - C) = 0.15R - 0.10C
The question asks for the percent increase in net income (0.15R - 0.10C)/(R - C) * 100
(1) The venue’s net income in 2023 was $120,000.
This gives R - C = 120,000, which is not enough to get the value of (0.15R - 0.10C)/(R - C) * 100.
Not sufficient.
(2) In 2023, the venue’s ticket revenue was twice its operating costs.
This gives R = 2C.
Substitute into the expression:
(0.15R - 0.10C)/(R - C) =
= (0.15 * 2C - 0.10C)/(2C - C) =
= 0.20C/C
= 0.20
So the venue’s net income increased by 20%.
Sufficient.
Answer: B.
A concert venue’s ticket revenue increased by 15% from 2023 to 2024, while its operating costs increased by 10% over the same period. If net income is defined as ticket revenue minus operating costs, by what percent did the venue’s net income increase from 2023 to 2024?
Let R be the venue’s ticket revenue in 2023, and let C be its operating costs in 2023.
The net income in 2023 was R - C
The net income in 2024 was 1.15R - 1.10C
The increase in net income was (1.15R - 1.10C) - (R - C) = 0.15R - 0.10C
The question asks for the percent increase in net income (0.15R - 0.10C)/(R - C) * 100
(1) The venue’s net income in 2023 was $120,000.
This gives R - C = 120,000, which is not enough to get the value of (0.15R - 0.10C)/(R - C) * 100.
Not sufficient.
(2) In 2023, the venue’s ticket revenue was twice its operating costs.
This gives R = 2C.
Substitute into the expression:
(0.15R - 0.10C)/(R - C) =
= (0.15 * 2C - 0.10C)/(2C - C) =
= 0.20C/C
= 0.20
So the venue’s net income increased by 20%.
Sufficient.
Answer: B.
General Discussion
03 Jun 2026, 20:29
Kudos
Bookmarks
Let 2023 revenue = R and 2023 costs = C.
Then:
N(2023) = R − C
Since revenue increased by 15% and costs increased by 10%:
N(2024) = 1.15R − 1.10C
Increase in net income:
N(2024) − N(2023)
= (1.15R − 1.10C) − (R − C)
= 0.15R − 0.10C
Percent increase:
(0.15R − 0.10C)/(R − C)
We need the ratio R:C.
Statement (1):
Net income in 2023 was $120,000.
R − C = 120,000
One equation with two variables → insufficient.
Statement (1) is NOT sufficient.
Statement (2):
Revenue was twice costs.
R = 2C
Then:
N(2023) = 2C − C = C
N(2024) = 1.15(2C) − 1.10C
= 2.30C − 1.10C
= 1.20C
Percent increase:
(1.20C − C)/C
= 0.20
= 20%
A unique answer is obtained.
Statement (2) is sufficient.
Answer: B (Statement 2 alone is sufficient, but Statement 1 alone is not sufficient.)
Then:
N(2023) = R − C
Since revenue increased by 15% and costs increased by 10%:
N(2024) = 1.15R − 1.10C
Increase in net income:
N(2024) − N(2023)
= (1.15R − 1.10C) − (R − C)
= 0.15R − 0.10C
Percent increase:
(0.15R − 0.10C)/(R − C)
We need the ratio R:C.
Statement (1):
Net income in 2023 was $120,000.
R − C = 120,000
One equation with two variables → insufficient.
Statement (1) is NOT sufficient.
Statement (2):
Revenue was twice costs.
R = 2C
Then:
N(2023) = 2C − C = C
N(2024) = 1.15(2C) − 1.10C
= 2.30C − 1.10C
= 1.20C
Percent increase:
(1.20C − C)/C
= 0.20
= 20%
A unique answer is obtained.
Statement (2) is sufficient.
Answer: B (Statement 2 alone is sufficient, but Statement 1 alone is not sufficient.)
