• Kaplan Test Prep
    Free Practice Test & Review
    How would you score if you took the GMAT

    Available with Beat the GMAT members only code

    MORE DETAILS
    Kaplan Test Prep
  • Target Test Prep
    5-Day Free Trial
    5-day free, full-access trial TTP Quant

    Available with Beat the GMAT members only code

    MORE DETAILS
    Target Test Prep
  • e-gmat Exclusive Offer
    Get 300+ Practice Questions
    25 Video lessons and 6 Webinars for FREE

    Available with Beat the GMAT members only code

    MORE DETAILS
    e-gmat Exclusive Offer
  • Magoosh
    Magoosh
    Study with Magoosh GMAT prep

    Available with Beat the GMAT members only code

    MORE DETAILS
    Magoosh
  • EMPOWERgmat Slider
    1 Hour Free
    BEAT THE GMAT EXCLUSIVE

    Available with Beat the GMAT members only code

    MORE DETAILS
    EMPOWERgmat Slider
  • Economist Test Prep
    Free Trial & Practice Exam
    BEAT THE GMAT EXCLUSIVE

    Available with Beat the GMAT members only code

    MORE DETAILS
    Economist Test Prep
  • The Princeton Review
    FREE GMAT Exam
    Know how you'd score today for $0

    Available with Beat the GMAT members only code

    MORE DETAILS
    The Princeton Review
  • Varsity Tutors
    Award-winning private GMAT tutoring
    Register now and save up to $200

    Available with Beat the GMAT members only code

    MORE DETAILS
    Varsity Tutors
  • PrepScholar GMAT
    5 Day FREE Trial
    Study Smarter, Not Harder

    Available with Beat the GMAT members only code

    MORE DETAILS
    PrepScholar GMAT
  • Veritas Prep
    Free Veritas GMAT Class
    Experience Lesson 1 Live Free

    Available with Beat the GMAT members only code

    MORE DETAILS
    Veritas Prep

If the circus were to sell all of its 220 tickets for this..

This topic has 2 expert replies and 0 member replies

Forum: If the circus were to sell all of its 220 tickets for this..

Post
If the circus were to sell all 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

The OA is C.

I'm not sure what the question is asking:

"what percent less would last month's revenue be compared to this month's revenue?"

The way I interpreted the question was "last month's revenue is less than this month's revenue by how many percent?"

I got 5%,

(this month)-(last month)] / (last month).

Can any experts help, please? Thanks!

  • +1 Upvote Post
  • Quote
  • Flag

GMAT/MBA Expert

Senior | Next Rank: 100 Posts Default Avatar
Joined
16 Dec 2014
Posted:
94 messages
Followed by:
4 members
Upvotes:
2
GMAT Score:
770
Top Reply
Post
AAPL wrote:
If the circus were to sell all 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

The OA is C.

I'm not sure what the question is asking:

"what percent less would last month's revenue be compared to this month's revenue?"

The way I interpreted the question was "last month's revenue is less than this month's revenue by how many percent?"

I got 5%,

(this month)-(last month)] / (last month).

Can any experts help, please? Thanks!
Situation 1 (220 tickets @ price P): Revenue = 220*P = 220P
We know that this is 10% higher than the revenue last month - therefore the revenue last month is 200P.

Situation 2 (200 tickets @ price 1.05P): = 200*1.05P = 210P

Question asks us to look at how much less last months revenue is vs Situation 2:
How much less is it? Well that's 210P - 200P = 10P

Answer = 10P/210P = 1/21, to get it into a % we need to * by 100. So the answer in percentage terms is 100/21.

  • +1 Upvote Post
  • Quote
  • Flag
Post
AAPL wrote:
If the circus were to sell all 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.

Answer: C

_________________
Jeffrey Miller Head of GMAT Instruction

  • +1 Upvote Post
  • Quote
  • Flag

Top First Responders*

1 Jay@ManhattanReview 79 first replies
2 Brent@GMATPrepNow 61 first replies
3 fskilnik 58 first replies
4 GMATGuruNY 37 first replies
5 ceilidh.erickson 12 first replies
* Only counts replies to topics started in last 30 days
See More Top Beat The GMAT Members

Most Active Experts

1 image description fskilnik

GMAT Teacher

207 posts
2 image description Brent@GMATPrepNow

GMAT Prep Now Teacher

148 posts
3 image description Scott@TargetTestPrep

Target Test Prep

105 posts
4 image description Jay@ManhattanReview

Manhattan Review

97 posts
5 image description GMATGuruNY

The Princeton Review Teacher

93 posts
See More Top Beat The GMAT Experts