GRE Prep Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
A movie theater charges $6 per ticket, and pays $1,750 of
[#permalink]
27 May 2018, 03:37
27 May 2018, 03:37
1
Expert Reply
1
Bookmarks
00:00
Question Stats:
86% (01:21) correct
13% (01:43) wrong based on 36 sessions
Hide Show timer Statistics
A movie theater charges $6 per ticket, and pays $1,750 of expenses each time a movie is shown. How many tickets must be sold each time a movie is shown for the theater to make $1 of profit per ticket?
(A) 300
(B) 325
(C) 350
(D) 375
(E) 400
(A) 300
(B) 325
(C) 350
(D) 375
(E) 400
Re: A movie theater charges $6 per ticket, and pays $1,750 of
[#permalink]
27 May 2018, 12:39
27 May 2018, 12:39
Expert Reply
Explanation
This problem requires the knowledge that profit equals revenue minus cost. Memorize the formula: Profit = Revenue – Cost (or Profit = Revenue – Expenses), but you could just think about it logically—a business has to pay its expenses out of the money it makes: the rest is profit.
The cost each time a movie is shown is $1,750.
If the theater charges $6 per ticket and t is the number of tickets, the revenue is 6t.
In order for the profit to be $1 per ticket, the profit must be t dollars.
Plug these values into the equation Profit = Revenue – Cost:
\(t = 6t - 1,750\)
\(-5t = -1,750\)
\(t = 350\)
This problem requires the knowledge that profit equals revenue minus cost. Memorize the formula: Profit = Revenue – Cost (or Profit = Revenue – Expenses), but you could just think about it logically—a business has to pay its expenses out of the money it makes: the rest is profit.
The cost each time a movie is shown is $1,750.
If the theater charges $6 per ticket and t is the number of tickets, the revenue is 6t.
In order for the profit to be $1 per ticket, the profit must be t dollars.
Plug these values into the equation Profit = Revenue – Cost:
\(t = 6t - 1,750\)
\(-5t = -1,750\)
\(t = 350\)
Target Test Prep Representative
Joined: 09 May 2016
Status:Head GRE Instructor
Affiliations: Target Test Prep
Posts: 183
Given Kudos: 114
Location: United States
Re: A movie theater charges $6 per ticket, and pays $1,750 of
[#permalink]
07 Jun 2018, 15:49
07 Jun 2018, 15:49
2
Expert Reply
1
Bookmarks
sandy wrote:
A movie theater charges $6 per ticket, and pays $1,750 of expenses each time a movie is shown. How many tickets must be sold each time a movie is shown for the theater to make $1 of profit per ticket?
(A) 300
(B) 325
(C) 350
(D) 375
(E) 400
(A) 300
(B) 325
(C) 350
(D) 375
(E) 400
We can let m = the number of tickets sold and create the equation:
6m - 1750 = 1m
5m = 1750
m = 350
Answer: C
