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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 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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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 BrentGMATPrepNow on 17 Jun 2017, 07:31.
Last edited by BrentGMATPrepNow on 05 Dec 2018, 16:06, 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, 22:48
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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, 20:49
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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, 14:07
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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, 14:30
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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


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, 12:03
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, 06:44
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, 05:09
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, 05:17
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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?

Cheers,
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, 00:41
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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A manufacturer makes and sells 2 products, P and Q. The revenue from t  [#permalink]

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New post 11 Dec 2019, 08:45
Let p = units of product P ($20/unit) sold and q = units of product Q ($17/unit) sold
Also, q = 2p
Therefore, Average = \(\frac{20p + 17p}{p + q}\) ==> \(\frac{20p + 17(2p)}{p + 2p}\) ==> \(\frac{20p + 34p}{3p}\) ==> \(\frac{54p}{3p}\) ==> $18 (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 28 Mar 2020, 02:12
GMATPrepNow

I often get the below logic wrong. Could you please help?

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

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MariaAntony wrote:
GMATPrepNow

I often get the below logic wrong. Could you please help?

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


This kind of wording can be tricky at times.

Last year the manufacturer sold TWICE as many units of Q as P = the number of Q's sold is TWICE the number of P's sold = = the number of Q's sold = 2(the number of P's sold)

Likewise, Joe has TWICE as many dogs as cats = the number of dogs is TWICE the number of cats = = the number of dogs = 2(the number of cats)

Does that help?
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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 Mar 2020, 09:10
Thank you very much. That helps!
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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 30 Apr 2020, 18:38
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

Hello Experts,
EMPOWERgmatRichC, VeritasKarishma, IanStewart, Bunuel, chetan2u, ArvindCrackVerbal, GMATGuruNY, AaronPond, GMATinsight, ccooley
^^ this is the actual question. What if the question is modified a bit? Could you help me by removing other choices with the EASIEST way in the new version that i modified?
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 P as Q. 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
Thanks__
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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 30 Apr 2020, 19:58
Asad 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

Hello Experts,
EMPOWERgmatRichC, VeritasKarishma, IanStewart, Bunuel, chetan2u, ArvindCrackVerbal, GMATGuruNY, AaronPond, GMATinsight, ccooley
^^ this is the actual question. What if the question is modified a bit? Could you help me by removing other choices with the EASIEST way in the new version that i modified?
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 P as Q. 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
Thanks__


Asad

The average revenue cant go beyond 17 and 20 so two options A and B eliminated

twice as many units of P as Q

i.e Average should be twice as close to price of P than to the price of Q i.e. Options D and E eliminated because the price is either midpoint 18.5 or close to Q

P = 20, Q = 17

i.e. Answer will be Option C
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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 01 May 2020, 10:15
1
1
Asad 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

Hello Experts,
EMPOWERgmatRichC, VeritasKarishma, IanStewart, Bunuel, chetan2u, ArvindCrackVerbal, GMATGuruNY, AaronPond, GMATinsight, ccooley
^^ this is the actual question. What if the question is modified a bit? Could you help me by removing other choices with the EASIEST way in the new version that i modified?
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 P as Q. 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
Thanks__


Hi Asad,

The Answer choices to this question are really helpful - and they're "spread out" in a way that creates a great 'concept shortcut' so that we really don't have to do much math to answer this question.

To start, in simple terms we're taking the average of a certain number of 17s and a certain number of 20s.... so the average MUST be between 17 and 20. Next, IF we had the SAME number of 17s and 20s, then the average would be (17+20)/2 = 37/2 = 18.5..... However, we do NOT have the same number of each. In your example, we have MORE 20s, which will INCREASE the average to something GREATER than 18.5 (but not greater than 20, since that's not mathematically possible here). There's only one answer that makes sense....



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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 04 May 2020, 20:52
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Asad 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

Hello Experts,
EMPOWERgmatRichC, VeritasKarishma, IanStewart, Bunuel, chetan2u, ArvindCrackVerbal, GMATGuruNY, AaronPond, GMATinsight, ccooley
^^ this is the actual question. What if the question is modified a bit? Could you help me by removing other choices with the EASIEST way in the new version that i modified?
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 P as Q. 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
Thanks__


It doesn't matter what the question is. Think this way:
P - Selling price is $20
Q - Selling price is $17

If equal quantities of the two are sold, the average selling price would be right in the middle, i.e. 18.5.

Now, if you sell P more, avg selling price will move toward 20.
But if you sell Q more, avg selling price will move toward 17.

So if Q are more than P in number, avg will lie between 17 and 18.5 (exclusive if both are sold)
If P are more in number than Q, avg will lie between 18.5 and 20 (exclusive if both are sold)
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A manufacturer makes and sells 2 products, P and Q. The revenue from t   [#permalink] 04 May 2020, 20:52

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

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