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A movie theater charges $6 per ticket, and pays $1,750 of

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GMAT Club Legend
GMAT Club Legend
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Joined: 07 Jun 2014
Posts: 4720
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
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Kudos [?]: 1622 [0], given: 385

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A movie theater charges $6 per ticket, and pays $1,750 of [#permalink] New post 27 May 2018, 03:37
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Question Stats:

0% (00:00) correct 100% (01:31) wrong based on 2 sessions
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
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Sandy
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GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 07 Jun 2014
Posts: 4720
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 91

Kudos [?]: 1622 [0], given: 385

CAT Tests
Re: A movie theater charges $6 per ticket, and pays $1,750 of [#permalink] New post 27 May 2018, 12:39
Expert's post
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:

\(t = 6t - 1,750\)

\(-5t = -1,750\)

\(t = 350\)
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Sandy
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Re: A movie theater charges $6 per ticket, and pays $1,750 of [#permalink] New post 07 Jun 2018, 15:49
Expert's post
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


We can let m = the number of tickets sold and create the equation:

6m - 1750 = 1m

5m = 1750

m = 350

Answer: C
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Re: A movie theater charges $6 per ticket, and pays $1,750 of   [#permalink] 07 Jun 2018, 15:49
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