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How much revenue did a concert venue receive from the sale of 1500 tic

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How much revenue did a concert venue receive from the sale of 1500 tic  [#permalink]

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New post 17 Feb 2016, 04:37
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Question Stats:

85% (00:37) correct 15% (00:24) wrong based on 64 sessions

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How much revenue did a concert venue receive from the sale of 1500 tickets, some of which were sold at a discounted price?

(1) The number of tickets sold at the discounted price was 20% of the total number of tickets sold.
(2) The full price for a ticket was twice that of the discounted price.


Kudos for correct solution.

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Re: How much revenue did a concert venue receive from the sale of 1500 tic  [#permalink]

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New post 19 Feb 2016, 10:15
Total number of tickets sold = 1500; Revenue = ?

St1: Number of discounted tickets = (1/5)*1500 = 300
Number of tickets sold at original price = 1500 - 300 = 1200
Revenue = 1200(Original Price) + 300(Discounted Price)
St1 is not sufficient.

St2: Original Price = 2*Discounted Price. --> Clearly insufficient to calculate the revenue

Combining St1 and St2,
Revenue = 1200(Original Price) + 300(Original Price/2) = 1350 * Original Price
Value of Original Price is not given
So combining St1 and St2 is also insufficient.

Answer: E
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Re: How much revenue did a concert venue receive from the sale of 1500 tic  [#permalink]

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New post 23 Feb 2016, 06:11
Bunuel wrote:
How much revenue did a concert venue receive from the sale of 1500 tickets, some of which were sold at a discounted price?

(1) The number of tickets sold at the discounted price was 20% of the total number of tickets sold.
(2) The full price for a ticket was twice that of the discounted price.


Kudos for correct solution.


Required: Total revenue from sale of 1500 tickets

Statement 1: The number of tickets sold at the discounted price was 20% of the total number of tickets sold.
Nothing is known about the price.
INSUFFICIENT

Statement 2: The full price for a ticket was twice that of the discounted price.
Again we do not know the price.
INSUFFICIENT

Combining Statement 1 and Statement 2:
Still we know nothing about the price per ticket.
INSUFFICIENT

Option E
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Re: How much revenue did a concert venue receive from the sale of 1500 tic  [#permalink]

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New post 18 Apr 2017, 19:38
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Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: How much revenue did a concert venue receive from the sale of 1500 tic &nbs [#permalink] 18 Apr 2017, 19:38
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