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in the ORIENT theatre

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by sanju09 » Thu Jan 28, 2010 2:52 am
The entrance fee for the live music concert in the ORIENT theatre is $50. When the price of the ticket was lowered, the number of visitors increased by 60% and the box office collection recorded an increase of 36%. What was the reduction in the ticket price?
(A) $12.50
(B) $7.50
(C) $6
(D) $5
(E) $4.50
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by thephoenix » Thu Jan 28, 2010 3:03 am
IMO B

50$ ...........n tickets

50-x ......1.6n tickets( inc in tickets=60%)
revenue old=50*n
revenue new=(50-x)*1.6n

(rev old)1.36=revenue new

1.36(50*n)=(50-x)*1.6n
solvingx=7.5$
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by ajith » Thu Jan 28, 2010 3:09 am
sanju09 wrote:The entrance fee for the live music concert in the ORIENT theatre is $50. When the price of the ticket was lowered, the number of visitors increased by 60% and the box office collection recorded an increase of 36%. What was the reduction in the ticket price?
(A) $12.50
(B) $7.50
(C) $6
(D) $5
(E) $4.50
Say they sold x tickets initially

and lowered the price by y

Initial Revenue = 50x
(50-b)*1.6x = 50x (1.36)

(50-b)*1.6 = 50*1.36

(50-b) = 50*1.36/1.6

50-b = 42.5; b=7.5
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