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# Phil collects virtual gold in an online computer game and th

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GMAT Club Legend
Joined: 07 Jun 2014
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GRE 1: Q167 V156
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Phil collects virtual gold in an online computer game and th [#permalink]  18 Jun 2018, 14:59
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Question Stats:

90% (00:59) correct 9% (00:00) wrong based on 11 sessions
Phil collects virtual gold in an online computer game and then sells the virtual gold for real dollars. After playing 10 hours a day for 6 days, he collected 540,000 gold pieces. If he immediately sold this virtual gold at a rate of $1 per 1,000 gold pieces, what were his average earnings per hour, in real dollars? (A)$5
(B) $6 (C)$7
(D) $8 (E)$9
[Reveal] Spoiler: OA

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Sandy
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Director
Joined: 20 Apr 2016
Posts: 743
Followers: 6

Kudos [?]: 500 [0], given: 86

Re: Phil collects virtual gold in an online computer game and th [#permalink]  23 Jun 2018, 10:52
sandy wrote:
Phil collects virtual gold in an online computer game and then sells the virtual gold for real dollars. After playing 10 hours a day for 6 days, he collected 540,000 gold pieces. If he immediately sold this virtual gold at a rate of $1 per 1,000 gold pieces, what were his average earnings per hour, in real dollars? (A)$5
(B) $6 (C)$7
(D) $8 (E)$9

Here,

Total Hours he spent = 10hr * 6days = 60 hours

Total Earning real dollars in 60 hours = $$54* 10^4$$

But 1000 virtual coin = $1 therefore $$54* 10^4$$ virtual coins= $$54* 10^4$$ * $$\frac{1}{1000}$$=$540 real coin

Therefore in 60 Hrs he earns = $540 real gold coin so in 1 hour he earns = $$\frac{540}{60}$$ =$9
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Target Test Prep Representative
Affiliations: Target Test Prep
Joined: 09 May 2016
Posts: 161
Location: United States
Followers: 4

Kudos [?]: 114 [0], given: 0

Re: Phil collects virtual gold in an online computer game and th [#permalink]  24 Jun 2018, 17:02
Expert's post
sandy wrote:
Phil collects virtual gold in an online computer game and then sells the virtual gold for real dollars. After playing 10 hours a day for 6 days, he collected 540,000 gold pieces. If he immediately sold this virtual gold at a rate of $1 per 1,000 gold pieces, what were his average earnings per hour, in real dollars? (A)$5
(B) $6 (C)$7
(D) $8 (E)$9

He was playing for 10 x 6 = 60 hours, during which he earned 540,000/1,000 = $540. Thus, his hourly earning is 540/60 =$9.

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Jeffery Miller

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Joined: 05 Jan 2018
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Followers: 0

Kudos [?]: 16 [0], given: 8

Re: Phil collects virtual gold in an online computer game and th [#permalink]  25 Jun 2018, 07:30
E...9$GMAT Club Legend Joined: 07 Jun 2014 Posts: 4710 GRE 1: Q167 V156 WE: Business Development (Energy and Utilities) Followers: 91 Kudos [?]: 1612 [0], given: 375 Re: Phil collects virtual gold in an online computer game and th [#permalink] 10 Jul 2018, 05:37 Expert's post Explanation To solve for average earnings, fill in this formula: Total earnings ÷ Total hours = Average earnings per hour Since the gold-dollar exchange rate is$1 per 1,000 gold pieces, Phil’s real dollar earnings for the 6 days were 540,000 ÷ 1,000 = $540. His total time worked was 10 hours per day × 6 days = 60 hours. Therefore, his average hourly earnings were$540 ÷ 60 hours = \$9 per hour.
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Sandy
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Re: Phil collects virtual gold in an online computer game and th   [#permalink] 10 Jul 2018, 05:37
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