GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 21 Sep 2018, 11:03

Close

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

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

Clinton bought two tickets to a Rock Band Concert, a concompany ticket

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 49300
Clinton bought two tickets to a Rock Band Concert, a concompany ticket  [#permalink]

Show Tags

New post 05 May 2017, 03:27
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

86% (01:29) correct 14% (02:53) wrong based on 52 sessions

HideShow timer Statistics

Clinton bought two tickets to a Rock Band Concert, a concompany ticket for $156 and a mezzanine ticket for $184. He sold the concompany ticket for 25 percent more than he paid for it and sold the mezzanine ticket for 25 percent less than he paid for it. What was his total gain or loss?

A. Loss of $5
B. Loss of $7
C. There was neither a net gain nor a net loss
D. Gain of $5
E. Gain of $7

_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Manager
Manager
avatar
B
Joined: 11 Feb 2017
Posts: 193
Re: Clinton bought two tickets to a Rock Band Concert, a concompany ticket  [#permalink]

Show Tags

New post 05 May 2017, 03:46
1
A = 156
B= 184

125% of A = 195 = Let C
75% of B = 138 = Let D


A+B=340 (Cost Price for both)

C+D = 333(Selling Price for both)

A+B - (C+D) = - 7 ( '-' Denotes loss)


Ans= Loss of 7 dollars
Director
Director
avatar
S
Joined: 21 Mar 2016
Posts: 531
Reviews Badge
Re: Clinton bought two tickets to a Rock Band Concert, a concompany ticket  [#permalink]

Show Tags

New post 07 May 2017, 11:00
25% of 156 is less than 25% of 184 by 7..

hence ans B,,loss of 7 dollars
Intern
Intern
avatar
B
Joined: 09 Apr 2017
Posts: 37
Location: United States
GMAT 1: 690 Q47 V38
GMAT 2: 720 Q48 V41
GPA: 3.5
Re: Clinton bought two tickets to a Rock Band Concert, a concompany ticket  [#permalink]

Show Tags

New post 08 May 2017, 14:46
mohshu wrote:
25% of 156 is less than 25% of 184 by 7..

hence ans B,,loss of 7 dollars


Did you get that by estimating or calculation? It took me 3 minutes to arrive at a loss of 7. :|
Math Expert
User avatar
V
Joined: 02 Aug 2009
Posts: 6797
Re: Clinton bought two tickets to a Rock Band Concert, a concompany ticket  [#permalink]

Show Tags

New post 08 May 2017, 19:06
1
1
skysailor wrote:
mohshu wrote:
25% of 156 is less than 25% of 184 by 7..

hence ans B,,loss of 7 dollars


Did you get that by estimating or calculation? It took me 3 minutes to arrive at a loss of 7. :|



Hi,

If you want to do this Q in less than 2 minutes you could approach it the following way:-

Firstly, the HIGHER priced is sold at loss and loss & gain % are same, Overall there will be LOSS..
So you have to look choices with loss, you can eliminate 3 choices.

Now what is the loss...
25% of (185-156) or 28...
25% is nothing but 1/4 so 28*1/4=7...
So a loss of 7

It may be helpful to know following%
12.5%=1/8
16.67%=1/6
25%=1/4
33.33%=1/3
40%=2/5
50%=1/2
60%=3/5
66.67%=2/3
75%=3/4
80%=4/5
_________________

1) Absolute modulus : http://gmatclub.com/forum/absolute-modulus-a-better-understanding-210849.html#p1622372
2)Combination of similar and dissimilar things : http://gmatclub.com/forum/topic215915.html
3) effects of arithmetic operations : https://gmatclub.com/forum/effects-of-arithmetic-operations-on-fractions-269413.html


GMAT online Tutor

BSchool Forum Moderator
User avatar
V
Joined: 26 Feb 2016
Posts: 3133
Location: India
GPA: 3.12
Premium Member CAT Tests
Clinton bought two tickets to a Rock Band Concert, a concompany ticket  [#permalink]

Show Tags

New post 08 May 2017, 23:32
When given percents, it is easier if you remember these proportions
If an item must be sold at a net profit of 25%
CP ------ Profit ------ SP
100 -------25 ------ 125
4 ------- 1 ------- 5(Proportion)


Similarly if the item is to be sold at a net loss of 25%
CP ------ Loss ------ SP
75 -------25 ------ 100
3 ------- 1 ------- 4


These proportions have been done
considering 100 as CP for Profit questions
and 100 as SP for Loss questions.

Using this proportions we can come back to the question in hand.
He buys a concompany ticket for $156(sells at a profit of 25%)
and a mezzanine ticket for $184(sells at a loss of 25%)

So 156 is 4 parts, 1 part(profit) is +39
and 184 is 4 parts, 1 part(loss) is -46

Net profit or loss = +39 -46 = -7(Option B)

P.S if you memorize these proportions for the basic profits like 10,20,25,50 and loss,
it will make things a lot easier. However it not as difficult to deduce at that time also.
_________________

You've got what it takes, but it will take everything you've got

Director
Director
avatar
S
Joined: 21 Mar 2016
Posts: 531
Reviews Badge
Re: Clinton bought two tickets to a Rock Band Concert, a concompany ticket  [#permalink]

Show Tags

New post 09 May 2017, 10:06
skysailor wrote:
mohshu wrote:
25% of 156 is less than 25% of 184 by 7..

hence ans B,,loss of 7 dollars


Did you get that by estimating or calculation? It took me 3 minutes to arrive at a loss of 7. :|


chetan2u has given a very good explanation,,,,

cheers
Director
Director
avatar
P
Joined: 14 Nov 2014
Posts: 650
Location: India
Schools: Rotman '20 (S)
GMAT 1: 700 Q50 V34
GPA: 3.76
Re: Clinton bought two tickets to a Rock Band Concert, a concompany ticket  [#permalink]

Show Tags

New post 09 May 2017, 10:27
Bunuel wrote:
Clinton bought two tickets to a Rock Band Concert, a concompany ticket for $156 and a mezzanine ticket for $184. He sold the concompany ticket for 25 percent more than he paid for it and sold the mezzanine ticket for 25 percent less than he paid for it. What was his total gain or loss?

A. Loss of $5
B. Loss of $7
C. There was neither a net gain nor a net loss
D. Gain of $5
E. Gain of $7


25% gain= Number + Number/4 (gain) , so 156/4 = 39 = 156 +39----------------------------1
25% gain = number - Number/4(loss) , so 184 / 4 = 46 = 184 - 47 = 184 -39 - 7 --------------------2

From 1 and 2 we can see loss of 7 ..
Target Test Prep Representative
User avatar
G
Status: Head GMAT Instructor
Affiliations: Target Test Prep
Joined: 04 Mar 2011
Posts: 2835
Re: Clinton bought two tickets to a Rock Band Concert, a concompany ticket  [#permalink]

Show Tags

New post 12 May 2017, 13:34
Bunuel wrote:
Clinton bought two tickets to a Rock Band Concert, a concompany ticket for $156 and a mezzanine ticket for $184. He sold the concompany ticket for 25 percent more than he paid for it and sold the mezzanine ticket for 25 percent less than he paid for it. What was his total gain or loss?

A. Loss of $5
B. Loss of $7
C. There was neither a net gain nor a net loss
D. Gain of $5
E. Gain of $7


We are given that Clinton paid $156 for a concompany ticket and $184 for a mezzanine ticket. Thus, he paid 154 + 184 = $340 for the two tickets.

He then sold the concompany ticket for 1.25 x 156 = $195.

He also sold the mezzanine ticket for 0.75 x 184 = $138.

Thus, he sold the two tickets for 195 + 138 = $333.

Since he paid $340 for the two tickets, he had a total loss of 340 - 333 = $7.

Answer: B
_________________

Jeffery Miller
Head of GMAT Instruction

GMAT Quant Self-Study Course
500+ lessons 3000+ practice problems 800+ HD solutions

Re: Clinton bought two tickets to a Rock Band Concert, a concompany ticket &nbs [#permalink] 12 May 2017, 13:34
Display posts from previous: Sort by

Clinton bought two tickets to a Rock Band Concert, a concompany ticket

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  

Events & Promotions

PREV
NEXT


GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.