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What percent less would last month's revenue be compared to this month's revenue: $$percent=\frac{4,200-4,000}{4,200}*100=\frac{100}{21}%$$. General formula for percent increase or decrease, (percent change): $$percent=\frac{Change}{Original}*100$$, so as we are comparing the difference to this month's revenue we should put this value ($4,200) in the denominator. Answer: C. Thank you for your comment. I don't quite agree with the % change formula. Common formula for % change is Change % = (Current month less Last Month)/Last Month *100% (this approach is consistent with 13th OE, please refer to question 177 problem solving). But even if you would like to use current month as a reference value then the formula should be Change % = (Last month less Current Month)/Current Month *100 You always deduct and divide by the same amount (i.e. reference value) Common approach is to use prior month as a reference value. Thus the correct answer should be either negative (if current month is used as a reference value) or recalculated using last month as a reference value Math Expert Joined: 02 Sep 2009 Posts: 51218 Re: If the circus were to sell all of its 220 tickets for this [#permalink] ### Show Tags 29 Jun 2013, 04:17 NikRu wrote: Bunuel wrote: 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 For a percentage questions like this one, it's almost always better to plug some smart numbers. Let the usual price of a ticket be$20 (I chose $20 because$20+5%=$21=integer, which will make calculations easier). This month's revenue for this price would be 220*$20=$4,400 and we are told that it's 10% greater than the revenue collected last month, hence the last month's revenue was$4,400/1.1=$4,000; Circus raised the ticket price by 5%, so the new price was$21 and the actual revenue from 200 tickets was 200*$21=$4,200;

What percent less would last month's revenue be compared to this month's revenue: $$percent=\frac{4,200-4,000}{4,200}*100=\frac{100}{21}%$$. General formula for percent increase or decrease, (percent change): $$percent=\frac{Change}{Original}*100$$, so as we are comparing the difference to this month's revenue we should put this value ($4,200) in the denominator. Answer: C. Thank you for your comment. I don't quite agree with the % change formula. Common formula for % change is Change % = (Current month less Last Month)/Last Month *100% (this approach is consistent with 13th OE, please refer to question 177 problem solving). But even if you would like to use current month as a reference value then the formula should be Change % = (Last month less Current Month)/Current Month *100 You always deduct and divide by the same amount (i.e. reference value) Common approach is to use prior month as a reference value. Thus the correct answer should be either negative (if current month is used as a reference value) or recalculated using last month as a reference value Not quite understand what you mean here. Anyway, check here: if-the-circus-were-to-sell-all-of-its-220-tickets-for-this-126466.html#p1041966 Might help. Revenue this month =$4,200.
Revenue last month = \$4,000.

4,000 is ~4.8% (100/21%) less than 4,200.
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Re: If the circus were to sell all of its 220 tickets for this  [#permalink]

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07 Sep 2015, 08:18
say last month the revenue was x
this month it increased by 10 % =1.1x
now as per the question 1.1x=220
x=200, thus the revenue last month was 200
As per the question :1.05x=200
therefore x=210
and hence increase from last month =(210-200/210)*100
which gives 100/21
Director
Joined: 23 Jan 2013
Posts: 568
Schools: Cambridge'16
Re: If the circus were to sell all of its 220 tickets for this  [#permalink]

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05 Oct 2015, 21:41
y - last month price
x - last month revenue

Price x Number = Revenue
--y---------220--------1.1x
--1.05y----200---------?

220y=1.1x
210y=?x

220y/210y=1.1x/?x => 210y=1.05x

(105-100)/105=(5/105)*100=500/105=100/21

C
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Re: If the circus were to sell all of its 220 tickets for this  [#permalink]

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05 Jun 2016, 19:59
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

Let price be 10/ticket
then 220 tickets for this month's performance at its usual price=2200
which is 10%greater than last month(let X)---->x(1+10/100)=2200----->x=2000
now new revenue this month=200*10.5=2100
(Note:- if question asked for what % greater is this month revenue of last month,then =2000((1+A/100)=2100,will make ans choice B i.e 5% as correct answer)
Ans C
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If the circus were to sell all of its 220 tickets for this  [#permalink]

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05 Jun 2016, 20:36
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

Price remains unchanged and still revenue is increasing. This means that ticket sales were increased. This increase would be 10 % of the tickets sold last month
Now increased ticket sales were 220.

So last month if tickets sold were x, then
1.1 x = 220; x = 200.

So last month 200 tickets were sold.

Now suppose the usual ticket price was p.

So last month revenue = 200p

This month ticket price has been increased by 5 %. New price = 1.05p
Revenue of this month = 1.05p*200 = 210p

How much % is last month revenue less than this month's revenue.

Reduction: 210p - 200p = 10 p

Key point: Reduction is with respect to this month

so reduction % = $$\frac{10p}{210p}$$ * 100

= $$\frac{100}{21}$$

Senior Manager
Joined: 08 Dec 2015
Posts: 293
GMAT 1: 600 Q44 V27
Re: If the circus were to sell all of its 220 tickets for this  [#permalink]

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06 Feb 2017, 10:04
my equations: 220P=11/10R R=revenue last month
105/100P * 200 = x/100R

200P=R 105P/100*200=x/100*200P

x=105

so: answer B 5% change. I know something is wrong, but this thing makes sense.

VP
Joined: 07 Dec 2014
Posts: 1128
Re: If the circus were to sell all of its 220 tickets for this  [#permalink]

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06 Feb 2017, 20:46
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

let t=original ticket price
last month's revenue=220t/1.1=200t
this month's revenue=200*1.05t=210t
200t/210t=20/21
last month's revenue would be 1/21=100/21 % less than this month's
C
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Re: If the circus were to sell all of its 220 tickets for this  [#permalink]

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06 Mar 2018, 10:29
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.

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Re: If the circus were to sell all of its 220 tickets for this &nbs [#permalink] 06 Mar 2018, 10:29

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