lionsshare wrote:What was the revenue that a theater received from the sale of 400 tickets, some of which were sold at the full price and the remainder of which were sold at a reduced price?
(1) The number of tickets sold at the full price was 1/4 of the total number of tickets sold.
(2) The full price of a ticket was $25.
OA: E
Hello, Experts. Can you please share how to solve this problem.
Say the number of tickets sold at full-price = a, thus the number of tickets sold at reduced price = 400 - a
Say the full price = b and the price of the tickets sold at reduced price = c
Total revenue = Revenue from the sale of tickets at full-price + Revenue from the sale of tickets sold at reduced price
= ab + (400 - a)c
If we get the value of a, b and c, we get the answer.
Statement 1: The number of tickets sold at the full price was 1/4 of the total number of tickets sold.
This gives 400 - a = 1/4 of 400 = 100
Thus, a = 300.
We do not yet know the values of b and c, we cannot get the value of Total revenue. Insufficient.
Statement 2: The full price of a ticket was $25.
=> b = $25.
We do not yet know the values of a and c, we cannot get the value of Total revenue. Insufficient.
Statement 1 & 2:
We still do not have the value of c, we cannot get the value of Total revenue. Insufficient.
The correct answer:
E
Hope this helps!
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