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vaibhav101: Master | Next Rank: 500 Posts; Posts: 138; Joined: Mon May 01, 2017 11:56 pm; Thanked: 4 times

by vaibhav101 » Thu May 31, 2018 7:25 am

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A certain theater has 100 balcony seats. For every $2 increase in the price of a balcony seat above $10, 5 fewer seats will be sold. If all the balcony seats are sold when the price of each seat is $10, which of the following could be the price of a balcony seat if the revenue from the sale of balcony seats is $1360?

A $12
B $14
C $16
D $17
E $18

Source: Beat The GMAT — Problem Solving | Thu May 31, 2018 7:25 am

GMATGuruNY: GMAT Instructor; Posts: 15539; Joined: Tue May 25, 2010 12:04 pmFollowed by: 1906 members; Location: New York, NY; Thanked: 13060 times; GMAT Score:790

by GMATGuruNY » Thu May 31, 2018 8:49 am

vaibhav101 wrote:A certain theater has 100 balcony seats. For every $2 increase in the price of a balcony seat above $10, 5 fewer seats will be sold. If all the balcony seats are sold when the price of each seat is $10, which of the following could be the price of a balcony seat if the revenue from the sale of balcony seats is $1360?

A $12
B $14
C $16
D $17
E $18

At a price of $10 each, 100 seats are sold.
For every $2 increase in the price per seat, 5 fewer seats will be sold.
The following options are implied:
12*95 = 12(100-5) = 1200-60 = 1140.
14*90 = 1260.
16*85 = 16(80+5) = 1280+80 = 1360.
In the blue option, $1360 in revenue is yielded by a seat price of $16.

The correct answer is C.

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