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QOTD#7 Selected Data for Greetin Card Sales

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2 KUDOS received
GMAT Club Legend
GMAT Club Legend
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Joined: 07 Jun 2014
Posts: 4749
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 93

Kudos [?]: 1657 [2] , given: 396

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QOTD#7 Selected Data for Greetin Card Sales [#permalink] New post 03 Aug 2016, 16:53
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Question Stats:

75% (03:15) correct 25% (00:00) wrong based on 4 sessions
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22. In 1993 the number of Valentine’s Day cards sold was approximately how many times the number of Thanksgiving cards sold?
A. 20
B. 30
C. 40
D. 50
E. 60

[Reveal] Spoiler: OA
A


23. In 1993 a card company that sold 40 percent of the Mother’s Day cards that year priced its cards for that occasion between $1.00 and $8.00 each. If the revenue from sales of the company’s Mother’s Day cards in 1993 was r million dollars, which of the following indicates all possible values of r ?

A. 155 < r < 1,240
B. 93 < r < 496
C. 93 < r < 326
D. 62 < r < 744
E. 62 < r < 496

[Reveal] Spoiler: OA
E


24. Approximately what was the percent increase in the annual revenue from all greeting card sales from 1990 to 1993 ?

A. 50%
B. 45%
C. 39%
D. 28%
E. 20%

[Reveal] Spoiler: OA
D


For Question 25, select all the answer choices that apply.

25. In 1993 the average (arithmetic mean) price per card for all greeting cards sold was $1.25. For which of the following occasions was the number of cards sold in 1993 less than the total number of cards sold that year for occasions other than the ten occasions shown?

Indicate all such occasions.

A. Christmas
B. Valentine’s Day
C. Easter
D. Mother’s Day
E. Father’s Day
F. Graduation
G. Thanksgiving
H. Halloween

[Reveal] Spoiler: OA
C, D, E, F, G, H



Practice Questions
Question: 22 - 25
Page: 155 -156


[Reveal] Spoiler: Img
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_________________

Sandy
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GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 07 Jun 2014
Posts: 4749
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 93

Kudos [?]: 1657 [0], given: 396

CAT Tests
Re: QOTD#7 Selected Data for Greetin Card Sales [#permalink] New post 03 Aug 2016, 17:01
Expert's post
Explanation

22. According to the table, the number of Valentine’s Day cards sold in 1993 was 900 million, and the number of Thanksgiving cards sold was 42 million. Therefore the number of Valentine’s Day cards sold was \(\frac{900}{42}\), or approximately 21.4 times the number of Thanksgiving cards sold. Of the answer choices, the closest is 20. The correct answer is Choice A.

23. According the table, 155 million Mother’s Day cards were sold in 1993. The card company that sold 40 percent of the Mother’s Day cards sold (0.4)(155) million, or 62 million cards. Since that company priced the cards between $1.00 and $8.00 each, the revenue, r million dollars, from selling the 62 million cards was between ($1.00)(62) million and ($8.00)(62) million, or between $62 million and $496 million; that is, 62 < r < 496. Thus the correct answer is Choice E.

24. According to the bar graph, the annual revenue from all greeting card sales in 1990 was approximately $4.5 billion, and the corresponding total in 1993 was approximately $5.75 billion. Therefore the percent increase from 1990 to 1993 was approximately \(\frac{(5.75-4.5)}{4.5}*100%\), or approximately 28%. The correct answer is Choice D.

25. According to the bar graph, the total annual revenue in 1993 was approximately $5.75 billion. In the question, you are given that the average price per card for all greeting cards sold was $1.25. Therefore the total number of cards sold for all occasions was \(\frac{5.75}{1.25}\) billion, or 4.6 billion.

According to the table, the total number of cards sold in 1993 for the ten occasions shown was 3.9 billion. So the number of cards sold for occasions other than the ten occasions shown, in billions, was 4.6 – 3.9, or 0.7 billion. Note that 0.7 billion equals 700 million. From the table, you can see that less than 700 million cards were sold for each of six of the occasions in the answer choices: Easter, Mother’s Day, Father’s Day, Graduation, Thanksgiving, and Halloween.

Thus the correct answer consists of Choices C, D, E, F, G, and H.
_________________

Sandy
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