manalq8 wrote:
If the circus were to sell all of its 220 tickets for this month's performance at its usual price, the revenue from sales would be 10% greater than that collected last month. If the circus raised the ticket price by 5% and sold only 200 tickets as a result, what percent less would last month's revenue be compared to this month's revenue?
A. 2
B. 5
C. 100/21
D. 110/20
E. 9/4
We can let p = the usual price per ticket and r = revenue last month
So the normal revenue would be 220p and we can create the equation:
220p = 1.1r
200p = r
When the ticket price is raised 5%, the revenue is 1.05p(200) = 210p.
So the percent change from last month would be (200p - 210p)/210p x 100 = -10/210 x 100 = -1000/210 = -100/21, which corresponds to a revenue that is 100/21 percent less than this month’s revenue.
Answer: C
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