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08 Mar 2015, 19:14
00:00

Difficulty:

55% (hard)

Question Stats:

69% (01:56) correct 31% (01:53) wrong based on 71 sessions

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In the month of August, Pentheus Corporation made $200,000 in profit. Pentheus made 6% of that profit on the second Wednesday of August. If the profits that day were approximately 14.5% of the revenue for that day, then what was Pentheus’s revenue on the second Wednesday of August? A.$65,536
B. $75,025 C.$77,922
D. $80,000 E.$82,756

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08 Mar 2015, 23:59
1
Bunuel wrote:
In the month of August, Pentheus Corporation made $200,000 in profit. Pentheus made 6% of that profit on the second Wednesday of August. If the profits that day were approximately 14.5% of the revenue for that day, then what was Pentheus’s revenue on the second Wednesday of August? A.$65,536
B. $75,025 C.$77,922
D. $80,000 E.$82,756

Kudos for a correct solution.

+1 for E. Profit made on second Wednesday of August=6/100*200,000=$12000 Revenue=12000*100/14.5=2400,000/29=$82,756
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In the month of August, Pentheus Corporation made $200,000 in profit. [#permalink] ### Show Tags 09 Mar 2015, 00:29 1 Answer = E.$82,756

6% of profit$$= \frac{200000*6}{100} = 12000$$

Profit on Wednesday $$= \frac{12000*100}{14.5} = 82***$$

Answer would be more than 80,000 which is option E
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09 Mar 2015, 01:26
1
total profit = 200,000
profit made on wednesday = .06x200,000=12,000
revenue=12,000/.145=12000x100/14.5= 82,756

you can save a few seconds by looking at the options, dividing the final value by 14.5 we get the first digit as 8 and there's further division left so only viable option is (E)
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### Show Tags

15 Mar 2015, 19:48
Bunuel wrote:
In the month of August, Pentheus Corporation made $200,000 in profit. Pentheus made 6% of that profit on the second Wednesday of August. If the profits that day were approximately 14.5% of the revenue for that day, then what was Pentheus’s revenue on the second Wednesday of August? A.$65,536
B. $75,025 C.$77,922
D. $80,000 E.$82,756

Kudos for a correct solution.

MAGOOSH OFFICIAL SOLUTION:

First of all, 1% of $200,000 is$2000, and six times this means 6% is $12,000. That’s the easy part of the problem. Now we know 14.5% of revenue is$12,000.

As we discussed in this post, starting with (C) in this problem would not be fun. Instead, we’ll backsolving starting with the round number, choice (D). Suppose revenue = $80,000. (a) 1% of$80,000 = $800 (b) 10% of$80,000 = $8,000 (c) Multiply (a) by 4: 4% of$80,000 = $3,200 (d) Divide (a) by half: 0.5% of$80,000 = $400 (e) add (b) & (c) & (d): 14.5% of$80,000 = $11,600 That’s a bit shy of the required$12,000, so revenue must be larger than $80,000. That leads up immediately to the last choice. Answer = (E) _________________ Target Test Prep Representative Status: Founder & CEO Affiliations: Target Test Prep Joined: 14 Oct 2015 Posts: 4314 Location: United States (CA) Re: In the month of August, Pentheus Corporation made$200,000 in profit.  [#permalink]

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18 Jan 2018, 07:51
Bunuel wrote:
In the month of August, Pentheus Corporation made $200,000 in profit. Pentheus made 6% of that profit on the second Wednesday of August. If the profits that day were approximately 14.5% of the revenue for that day, then what was Pentheus’s revenue on the second Wednesday of August? A.$65,536
B. $75,025 C.$77,922
D. $80,000 E.$82,756

On the second Wednesday of August, the profit made was 0.06 x 200,000 = 12,000.

Since 12,000 was approximately 14.5% of the revenue for that day, we have:

12,000 = 0.145(revenue)

12,000/0.145 = revenue

Since we can estimate, we see that 12,000/0.15 = 80,000; however, since we are dividing by 0.145, which is a SMALLER NUMBER, we see that our answer must be a bit larger than 80,000, and the only answer that fits is E, 82,756.

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Re: In the month of August, Pentheus Corporation made $200,000 in profit. [#permalink] ### Show Tags 18 Oct 2018, 05:47 Top Contributor Bunuel wrote: In the month of August, Pentheus Corporation made$200,000 in profit. Pentheus made 6% of that profit on the second Wednesday of August. If the profits that day were approximately 14.5% of the revenue for that day, then what was Pentheus’s revenue on the second Wednesday of August?

A. $65,536 B.$75,025
C. $77,922 D.$80,000
E. $82,756 Kudos for a correct solution. In the month of August, Pentheus Corporation made$200,000 in profit. Pentheus made 6% of that profit on the second Wednesday of August.
1% of $200,000 =$2,000, so 6% of $200,000 = (6)($2,000) = $12,000 So, the profit on that day =$12,000

If the profits that day were approximately 14.5% of the revenue for that day, then what was Pentheus’s revenue on the second Wednesday of August?
Let R = the day's revenue.
So, we can write: $12,000/R = 14.5/100 Cross multiply to get: 1,200,000 = 14.5R So, R = 1,200,000/14.5 IMPORTANT: We COULD use long division to evaluate 1,200,000/14.5, but here's a faster route. First recognize that 1,200,000/15 = 80,000 Since 14.5 is a little bit smaller than 15, we know that 1,200,000/14.5 will be a little bit greater than 80,000 Answer: E Cheers, Brent _________________ Test confidently with gmatprepnow.com Re: In the month of August, Pentheus Corporation made$200,000 in profit. &nbs [#permalink] 18 Oct 2018, 05:47
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# In the month of August, Pentheus Corporation made \$200,000 in profit.

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