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Percentage

by vittalgmat » Sat Jan 03, 2009 1:13 am
If the circus were to sell all of its 220 tickets for this month's performance at their usual price, the revenue from sales would be 10% greater than that collected last month. However, the circus raised the ticket price by 5% and sold only 200 tickets as a result. What percent less was last month's revenue than that of this month?

A. 2
B. 5
C. 100/21
D. 110/20
E. 9/4

[spoiler]OA: C[/spoiler]

I am interested in multiple ways of solving this.

Thanks
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by cramya » Sat Jan 03, 2009 1:35 am
Let R be last months revenue
Let P be the price

Last month:

220 * P = R+10/100*R

220P = 1.1.R
R = 200P

This month

(P+5/100*P) *200

= 210P

80 is what % less than 100

80 is 20% less than 100

Percent less = 210P-200P / 210P * 100
= 100/21

or another way to look at

200P is what % of 210P

X/100*210P = 200P

X = 200*100/210
= 95.2

Percent less ~= 4.8 = 100/21
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by vittalgmat » Sat Jan 03, 2009 1:39 am
Thanks Cramya.
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by cramya » Sat Jan 03, 2009 1:42 am
Vittal,
Was your approach different?

Regards,
CR
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by vittalgmat » Sat Jan 03, 2009 1:44 am
mine was similar to yours.. but I took longer to solve. I guess I was not confident of my approach...
So I posted the Q to get some faster approaches.

thanks
-V
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by cramya » Sat Jan 03, 2009 1:46 am
I woudnt say this is a real easy one by any means(extra verbage that u need to comprehend). IMO I would rate it atleast in the low 600's if not any more.
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