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Percent Change

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Percent Change

by moonlite » Tue Apr 21, 2009 7:38 am
If an organization were to sell n tickets for a
theater production, the total revenue from ticket
sales would be 20 percent greater than the total
costs of the production. If the organization
actually sold all but 5 percent of the n tickets, the
total revenue from ticket sales was what percent
greater than the total costs of the production?

(A) 4%
(B) 10%
(C) 14%
(D) 15%
(E) 18%

OA C

Can someone please explain how we can apprach this problem by picking a number for N?

Thanks.
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by dmateer25 » Tue Apr 21, 2009 7:56 am
If you pick numbers you need to pick n and then a cost per ticket.

n = 60 tickets
Cost per ticket = 1


Revenue= 1.2Cost

Revenue = 60 (1) = 60

60= 1.2Cost
Cost= 50


Now if they only sell 95% of the 60 tickets.
.95(60) = 57


(57-50)/50 = 14%
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