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A swim club that sold only individual and family memberships charged $
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18 Dec 2014, 07:17
18 Dec 2014, 07:17
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A swim club that sold only individual and family memberships charged $300 for an individual membership. If the club’s total revenue from memberships was $480,000, what was the charge for a family membership ?
(1) The revenue from individual memberships was 1/4 of the total revenue from memberships.
(2) The club sold 1.5 times as many family member- ships as individual memberships.
(1) The revenue from individual memberships was 1/4 of the total revenue from memberships.
(2) The club sold 1.5 times as many family member- ships as individual memberships.
Re: A swim club that sold only individual and family memberships charged $
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19 Dec 2014, 09:45
19 Dec 2014, 09:45
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Bunuel
Tough and Tricky questions: Word Problems.
A swim club that sold only individual and family memberships charged $300 for an individual membership. If the club’s total revenue from memberships was $480,000, what was the charge for a family membership ?
(1) The revenue from individual memberships was 1/4 of the total revenue from memberships.
(2) The club sold 1.5 times as many family member- ships as individual memberships.
Kudos for a correct solution.
x+y=480,000
x= total revenue from individual memberships = Individual Memberships [i] * Individual Rate [r1]
y= total revenue from family memberships = Family Memberships [f] * Family Rate [r2]
(1) The revenue from individual memberships was 1/4 of the total revenue from memberships.
x= \(\frac{1}{4}\)*$480,000 = $120,000
x= i * r1 = i*$300 = $120,000 ==> i= 400 individual memberships
y= \(\frac{3}{4}\)*$480,000 = $360,000
y= f * r2 ==> two unknown variables, hence Not Sufficient.
(2) The club sold 1.5 times as many family member- ships as individual memberships.
x+y = $480,000; and r1=$300 ==> (i * $300) + (f * r2) = $480,000, where f = \(\frac{3}{2}\)i
(i * $300) + (f * r2) = (i*$300)+(\(\frac{3}{2}\)i*r2) = $480,000 ==> We still have two unknown variables and one equation, hence Not sufficient.
(1) + (2)
(1) i=400 memberships; and y=$360,000
(2) f= 1.5i = \(\frac{3}{2}\) * 400 = 600 family memberships
y= $360,000 ==> y = f*r2 ==> 600 * r2 = $360,000
r2=$600, thus Sufficient, Answer is C.
General Discussion
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Re: A swim club that sold only individual and family memberships charged $
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19 Dec 2014, 11:49
19 Dec 2014, 11:49
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Solution:
Statement 1: The revenue from individual memberships was 1/4 of the total revenue from memberships
Revenue from selling individual memberships = 480,000 / 4 = 120,000
Revenue from selling family membership = 480,000 - 120,000 = 360,000
- Insufficient to find the selling price of family membership
Statement 2: The club sold 1.5 times as many family member- ships as individual memberships
We don't know the total memberships sold or individual membership sold
- Insufficient to find the selling price of family membership
Combining statement 1 and 2:
Number of individual membership sold = 120,000 / 300 = 400
Number of family membership sold = 1.5 * 400 = 600
Charge for family membership = 360,000 / 600
Thus Statement A & B together are sufficient, Answer C
Statement 1: The revenue from individual memberships was 1/4 of the total revenue from memberships
Revenue from selling individual memberships = 480,000 / 4 = 120,000
Revenue from selling family membership = 480,000 - 120,000 = 360,000
- Insufficient to find the selling price of family membership
Statement 2: The club sold 1.5 times as many family member- ships as individual memberships
We don't know the total memberships sold or individual membership sold
- Insufficient to find the selling price of family membership
Combining statement 1 and 2:
Number of individual membership sold = 120,000 / 300 = 400
Number of family membership sold = 1.5 * 400 = 600
Charge for family membership = 360,000 / 600
Thus Statement A & B together are sufficient, Answer C
