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Phil collects virtual gold in an online computer game and th

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Phil collects virtual gold in an online computer game and th [#permalink] New post 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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Re: Phil collects virtual gold in an online computer game and th [#permalink] New post 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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Re: Phil collects virtual gold in an online computer game and th [#permalink] New post 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.

Answer: E
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Re: Phil collects virtual gold in an online computer game and th [#permalink] New post 25 Jun 2018, 07:30
E...9$
GMAT Club Legend
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Re: Phil collects virtual gold in an online computer game and th [#permalink] New post 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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Re: Phil collects virtual gold in an online computer game and th   [#permalink] 10 Jul 2018, 05:37
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