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A manufacturer makes and sells 2 products, P and Q. The revenue from t

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A manufacturer makes and sells 2 products, P and Q. The revenue from t  [#permalink]

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New post 17 Jun 2017, 08:11
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A manufacturer makes and sells 2 products, P and Q. The revenue from the sale of each unit of P is $20.00 and the revenue from the sale of each unit of Q is $17.00. Last year the manufacturer sold twice as many units of Q as P. What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?

A. $28.50
B. $27.00
C. $19.00
D. $18.50
E. $18.00

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A manufacturer makes and sells 2 products, P and Q. The revenue from t  [#permalink]

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New post Updated on: 05 Dec 2018, 17:06
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AbdurRakib wrote:
A manufacturer makes and sells 2 products, P and Q. The revenue from the sale of each unit of P is $20.00 and the revenue from the sale of each unit of Q is $17.00. Last year the manufacturer sold twice as many units of Q as P. What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?

A. $28.50
B. $27.00
C. $19.00
D. $18.50
E. $18.00


Let's plug in some NICE VALUES that satisfy the given information...

Last year the manufacturer sold twice as many units of Q as P.
So, let's say the manufacturer sold 1 P and 2 Q's

What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?
TOTAL revenue = 1($20.00) + 2($17.00)
= $20.00 + $34.00
= $54

There were 3 units sold.
So, average price = $54/3 = $18

Answer: E

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Last edited by GMATPrepNow on 05 Dec 2018, 17:06, edited 1 time in total.
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Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t  [#permalink]

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New post 17 Jun 2017, 23:48
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AbdurRakib wrote:
A manufacturer makes and sells 2 products, P and Q. The revenue from the sale of each unit of P is $20.00 and the revenue from the sale of each unit of Q is $17.00. Last year the manufacturer sold twice as many units of Q as P. What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?

A. $28.50
B. $27.00
C. $19.00
D. $18.50
E. $18.00


Revenue last year from the sale of P is 20*1 = 20
Revenue last year from the sale of Q is 17*2 = 34

Total Revenue from the sale of P and Q last year is 54

Average Revenue from the sale of P and Q last year is \(\frac{54}{2+1} = 18\)

Hence, answer will be (E) 18
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Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t  [#permalink]

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New post 02 Jul 2017, 21:49
Ratio of quantity of P and Q sold, P:Q = 1:2.

Thus, average revenue per unit = (20*P + 17*Q)/(P+Q) = (20*1 + 17*2)/(2 + 1) = 54/3 = $ 18

Hence E answer
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Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t  [#permalink]

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New post 03 Aug 2018, 15:07
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AbdurRakib wrote:
A manufacturer makes and sells 2 products, P and Q. The revenue from the sale of each unit of P is $20.00 and the revenue from the sale of each unit of Q is $17.00. Last year the manufacturer sold twice as many units of Q as P. What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?

A. $28.50
B. $27.00
C. $19.00
D. $18.50
E. $18.00


We can compute a weighted average to solve. Let’s assume that 2 units of Q and 1 unit of P were produced last year. So the total revenue is 2 x 17 + 1 x 20 = $54, and thus the average revenue per unit is thus 54/3 = $18.

Answer: E
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Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t  [#permalink]

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New post 18 Apr 2019, 15:30
AbdurRakib wrote:
A manufacturer makes and sells 2 products, P and Q. The revenue from the sale of each unit of P is $20.00 and the revenue from the sale of each unit of Q is $17.00. Last year the manufacturer sold twice as many units of Q as P. What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?

A. $28.50
B. $27.00
C. $19.00
D. $18.50
E. $18.00


If the weights were the same we would get an average of (17 + 20) / 2 = 18.5.

But we have more of the product that costs 17$, so the average would be less than 18.5, only 18 works - E
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A manufacturer makes and sells 2 products, P and Q. The revenue from t  [#permalink]

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New post 10 May 2019, 13:03
17+17+20/3=18 was per unit revenue
Where,
Q=17, twice
P=20

Answer is E

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A manufacturer makes and sells 2 products, P and Q. The revenue from t   [#permalink] 10 May 2019, 13:03
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