Tickets

[gmat7202011]

A ticket for a movie show costs 250$
When the price of the ticket was lowered , the sales increased by 50%, while the collections decreased by 17.5%

Find the reduction in the ticket price

Thank You

[stormier]

A ticket for a movie show costs 250$
When the price of the ticket was lowered , the sales increased by 50%, while the collections decreased by 17.5%

Find the reduction in the ticket price

Thank You

For 1 ticket

Before price reduction, collection = 250
If x is the new price, new collection = 1.5x (because 1.5 as many tickets sell at new price as at old price)

new collection = 250 (1-0.175) = 250(0.875) = 1.5x

=> x = 137.5

Reduction in ticket price = 250 - 137.5 = $112.5, or 45 %

[ashforgmat]

[spoiler]Reduction is Rs 112.5.
[/spoiler]

Form 2 equations :-

Say x = no of tickets
y = collection
r = reduction

250.x=y....(1)

(250-r).1.5x = 0.825y...(2)


divide (1) by (2)

and solve for r.

Cheers!

[rohu27]

OA plz..is it 112.5 $ ?

[gmat7202011]

Yes, that is correct.

Thank You for helping out