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The table above shows the number of tickets sold during each of the fi

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The table above shows the number of tickets sold during each of the fi [#permalink] New post   29 Nov 2018, 08:53
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The table above shows the number of tickets sold during each of the first 4 weeks after a movie was released. The producer of the movie received 10 percent of the revenue from every ticket sold with a guaranteed minimum of $200,000 each week for the first 4 weeks. If tickets sold for $4 each, how much did the producer receive for the first 4 weeks?

(A) $800,000
(B) $900,000
(e) $1,000,000
(D) $1,200,000
(E) $1,300,000

Project PS Butler : Question #48


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ArupRS
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Re: The table above shows the number of tickets sold during each of the fi [#permalink] New post   27 Jan 2019, 11:09
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I think the language is a bit confusing I thought min guaranteed amount is 200k per week for 4 weeks tantamount to 800k.
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Re: The table above shows the number of tickets sold during each of the fi [#permalink] New post   29 Nov 2018, 12:59
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If a ticket costs $4, then:

revenues of day 1 = 1,000,000 * 4 = 4,000,000 with 10% profit with value of 400k (>200k so accepted)
revenues of day 2 = 1,000,000 * 4 = 4,000,000 with 10% profit with value of 400k (>200k so accepted)
revenues of day 3 = 750,000 * 4 = 3,000,000 with 10% profit with value of 300k (>200k so accepted)
revenues of day 4 = 250,000 * 4 = 1,000,000 with 10% profit with value of 100k (<200k so rejected and the producer receives a minimum quote of 200k for the fourth week)

Sum profit received in 4 weeks = 400k+400k+300k+200k = 1300k = 1,300,000

so the answer is E.

(evaluate as a low difficulty question)
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Re: The table above shows the number of tickets sold during each of the fi [#permalink] New post   29 Nov 2018, 13:29
HKD1710 wrote:


The table above shows the number of tickets sold during each of the first 4 weeks after a movie was released. The producer of the movie received 10 percent of the revenue from every ticket sold with a guaranteed minimum of $200,000 each week for the first 4 weeks. If tickets sold for $4 each, how much did the producer receive for the first 4 weeks?

(A) $800,000
(B) $900,000
(e) $1,000,000
(D) $1,200,000
(E) $1,300,000

Project PS Butler : Question #48


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10% OF 4 IS 0.4 CENTS

WEEK ONE: 1,000, 000 *0.4 * 0.1 = 400, 000
WEEK TWO: 1,000, 000 *0.4 * 0.1 = 400, 000
WEEK THREE: 750,000 *0.4*0.1 = 300,000
WEEK FOUR: 250,000 *0.4*0.1 = 100,000 (SINCE THE MINIMUM GUARANTEE IS 200,000) HENCE IT SJOULD BE 200,000

400+400+300+200 = 1300


IMO: E
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Re: The table above shows the number of tickets sold during each of the fi [#permalink] New post   25 May 2022, 17:10
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HKD1710 wrote:


The table above shows the number of tickets sold during each of the first 4 weeks after a movie was released. The producer of the movie received 10 percent of the revenue from every ticket sold with a guaranteed minimum of $200,000 each week for the first 4 weeks. If tickets sold for $4 each, how much did the producer receive for the first 4 weeks?

(A) $800,000
(B) $900,000
(e) $1,000,000
(D) $1,200,000
(E) $1,300,000

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Table.JPG


Week 1: (1,000,000 tickets)($4/ per ticket) = $4,000,000. So, the producer's share = 10% of $4,000,000 = $400,000
Week 2: (1,000,000 tickets)($4/ per ticket) = $4,000,000. So, the producer's share = 10% of $4,000,000 = $400,000
Week 3: (750,000 tickets)($4/ per ticket) = $3,000,000. So, the producer's share = 10% of $3,000,000 = $300,000
Week 4: (250,000 tickets)($4/ per ticket) = $1,000,000. So, the producer's share = 10% of $1,000,000 = $100,000, which gets increased to the minimum $200,000

So, in the first 4 weeks, the total amount the producer received = $400,000 + $400,000 + $300,000 + $200,000 = $1,300,000

Answer: E
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Re: The table above shows the number of tickets sold during each of the fi [#permalink] New post   02 Sep 2022, 23:03
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ArupRS wrote:
I think the language is a bit confusing I thought min guaranteed amount is 200k per week for 4 weeks tantamount to 800k.


Agreed. GMAT questions do not leave anything to confusion or debate. Nowhere does it say that the producer will receive minimum 200k if the revenue does not hit the minimum amount. Are we missing something?
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Re: The table above shows the number of tickets sold during each of the fi [#permalink] New post   23 Oct 2023, 08:26
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Re: The table above shows the number of tickets sold during each of the fi [#permalink]
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