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In a given month, a restaurant spends between 55% and 70% of its reven
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11 Mar 2021, 03:40
11 Mar 2021, 03:40
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68% (02:00) correct
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In a given month, a restaurant spends between 55% and 70% of its revenue on food and supplies, and between 23% and 28% of its revenue on staff salaries. The remaining revenue is the restaurant’s net profit. If the restaurant earned $80,000 in revenue one month, which of the following could have been its net profit?
Indicate all that apply.
$1,000
$1,700
$10,000
$17,000
$18,000
Kudos for the right answer and explanation
Question part of the project GRE Quantitative Reasoning Daily Challenge - (2021) EDITION
GRE - Math Book
Indicate all that apply.
$1,000
$1,700
$10,000
$17,000
$18,000
Kudos for the right answer and explanation
Question part of the project GRE Quantitative Reasoning Daily Challenge - (2021) EDITION
GRE - Math Book
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Re: In a given month, a restaurant spends between 55% and 70% of its reven
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11 Mar 2021, 08:05
11 Mar 2021, 08:05
3
Carcass wrote:
In a given month, a restaurant spends between 55% and 70% of its revenue on food and supplies, and between 23% and 28% of its revenue on staff salaries. The remaining revenue is the restaurant’s net profit. If the restaurant earned $80,000 in revenue one month, which of the following could have been its net profit?
Indicate all that apply.
$1,000
$1,700
$10,000
$17,000
$18,000
Indicate all that apply.
$1,000
$1,700
$10,000
$17,000
$18,000
Food & Supplies = 55% to 70%
Staff Salaries = 23% to 28%
Total Expenditure = 78% to 98%
So, the Profit must be between 2% to 22%
Profit = \(0.02(80,000)\) to \(0.22(80,000)\)
i.e. Profit = $1600 to $17,600
Hence, option B, C, and D
Re: In a given month, a restaurant spends between 55% and 70% of its reven
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16 Feb 2022, 11:16
16 Feb 2022, 11:16
How do we know that profit will be in range and not exact two values?
Posted from my mobile device
Posted from my mobile device
