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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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Originally posted by GMATPrepNow on 17 Jun 2017, 08:31.
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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Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t  [#permalink]

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New post 26 Aug 2019, 07:44
And I got stuck with the TRAP answer B. 27.
After reading properly the second time I got it has to be divided by 3.
Why is this happening with me? :(
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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 23 Oct 2019, 06:09
GMATPrepNow wrote:
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


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

Answer: E


GMATPrepNow

how do we deduce this statement? I get confused with this statement and it often appears on word problems.

can you help me understand this and its various iterations on the exam?
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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 23 Oct 2019, 06:17
Top Contributor
Shrey9 wrote:
GMATPrepNow wrote:
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


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

Answer: E


GMATPrepNow

how do we deduce this statement? I get confused with this statement and it often appears on word problems.

can you help me understand this and its various iterations on the exam?



Which statement are you referring to?

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Brent
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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 28 Oct 2019, 01:41
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


Solving through logic: A/B are out as average cannot be more than 20$
Since no of Q > no of P, avg will be more near 17. If No of Q = No of P avg would be 18.5 (option D) which we eliminate since it's not the case.

C is out as it is more near 20.

Logic leaves us with E.

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Re: A manufacturer makes and sells 2 products, P and Q. The revenue from t   [#permalink] 28 Oct 2019, 01:41
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