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For a certain event, 148 people attended. If all 148 had pai

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For a certain event, 148 people attended. If all 148 had pai [#permalink] New post 02 Dec 2018, 09:55
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For a certain event, 148 people attended. If all 148 had paid full admission price, the total revenue would be three times the cost of sponsoring the event. (Admission price was the only source of revenue.) As it happens, only 50 paid the full admission price, and the others paid nothing.

Quantity A
Quantity B
The total revenue
The cost of sponsoring the event


A) Quantity A is greater.
B) Quantity B is greater.
C) The two quantities are equal.
D) The relationship cannot be determined from the information given
[Reveal] Spoiler: OA

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Re: For a certain event, 148 people attended. If all 148 had pai [#permalink] New post 02 Dec 2018, 22:11
Answer: B (Not sure)
148 attended
If 148 paid full admission price : total_revenue = 3* sponsoring_money
Paid the full admission price: 50
Paid nothing: 148 - 50 = 98

A: The total revenue
B: The cost of sponsoring the event

If 148 paid full admission price : total_revenue = 3* sponsoring_money
148 * full_admission_price = 3* sponsoring_money = total_revenue

And as admission price is the only source of revenue then :
50 *full_admission_price = Total_paid_money

148 * full_admission_price = 3* sponsoring_money divide by 3:
148/3 * full_admission_price = sponsoring_money
Then we know that total paid money is 50*full_admissions_price and sponsoring_money is 148/3 * full_admission_price then the revenue will be (50-148/3)* full_admission_price = 2/3 * full_admission_price (Less than one person’s admission price)
So A is 2/3 * per_person_full_admission_price
B is 148/3 * per_person_full_admission_price
And B is bigger.
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Re: For a certain event, 148 people attended. If all 148 had pai [#permalink] New post 03 Dec 2018, 12:34
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Revenue = 148*P and this are 3 times the costs

\(C=\frac{148}{3}\)*P

The revenue of column A are 50*P

\(R > C\)

A in the answer
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Re: For a certain event, 148 people attended. If all 148 had pai [#permalink] New post 03 Dec 2018, 12:41
Just wondering if we can pick values in such a question like $2 or $10 for one ticket?
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Re: For a certain event, 148 people attended. If all 148 had pai [#permalink] New post 03 Dec 2018, 12:44
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yeah, sure. It is one of your strategy in your arsenal. Of course, you can.

However, picking numbers is one of the most powerful ways to tackle a question yet is not among my favorite.

Often is better working conceptually and reaching faster the solution that waste time with numbers.

It depends.

Regards
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Re: For a certain event, 148 people attended. If all 148 had pai [#permalink] New post 03 Dec 2018, 12:48
Carcass wrote:
yeah, sure. It is one of your strategy in your arsenal. Of course, you can.

However, picking numbers is one of the most powerful ways to tackle a question yet is not among my favorite.

Often is better working conceptually and reaching faster the solution that waste time with numbers.

It depends.

Regards


I agree with this because sometimes there are fractions and decimals and negatives (FR O ZE N) that need to be taken into account and picking whole positive numbers can be deceptive. I use picking numbers strategy mainly when I am unable to work it out conceptually or I am sure that it is a positive integer
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Re: For a certain event, 148 people attended. If all 148 had pai [#permalink] New post 03 Dec 2018, 19:18
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kruttikaaggarwal wrote:
Carcass wrote:
yeah, sure. It is one of your strategy in your arsenal. Of course, you can.

However, picking numbers is one of the most powerful ways to tackle a question yet is not among my favorite.

Often is better working conceptually and reaching faster the solution that waste time with numbers.

It depends.

Regards


I agree with this because sometimes there are fractions and decimals and negatives (FR O ZE N) that need to be taken into account and picking whole positive numbers can be deceptive. I use picking numbers strategy mainly when I am unable to work it out conceptually or I am sure that it is a positive integer



hi..
picking a number is a good way to tackle a question easily and with speed.
But as you say it is quite deceptive and you should be careful..

As a rule never substitute a value when two quantities are interlinked..

Here the two values are constant, so you can use it
revenue from 50 = 50A
sponsoring cost = \(\frac{148A}{3}=49.33*A\)
so whatever you take A, revenue and sponsoring cost will have same relationship that is R>S

But say I told you the sponsoring cost was a constant amount 20.
or sponsoring amount was 1$ dollar for each person attending.
here you cannot take a value for admission price
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Some useful Theory.
1. Arithmetic and Geometric progressions : https://greprepclub.com/forum/progressions-arithmetic-geometric-and-harmonic-11574.html#p27048
2. Effect of Arithmetic Operations on fraction : https://greprepclub.com/forum/effects-of-arithmetic-operations-on-fractions-11573.html?sid=d570445335a783891cd4d48a17db9825
3. Remainders : https://greprepclub.com/forum/remainders-what-you-should-know-11524.html
4. Number properties : https://greprepclub.com/forum/number-property-all-you-require-11518.html
5. Absolute Modulus and Inequalities : https://greprepclub.com/forum/absolute-modulus-a-better-understanding-11281.html

Re: For a certain event, 148 people attended. If all 148 had pai   [#permalink] 03 Dec 2018, 19:18
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For a certain event, 148 people attended. If all 148 had pai

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