At a fundraiser, the ticket price, in dollars, is set to be x increased by 20% of x, and the...
GMAT Advanced Math : (Adv_Math) Questions
At a fundraiser, the ticket price, in dollars, is set to be \(\mathrm{x}\) increased by 20% of \(\mathrm{x}\), and the number of tickets sold is modeled by \(\mathrm{150 - 5x}\). The revenue \(\mathrm{R(x)}\) equals price times number of tickets. What is the value of \(\mathrm{R(10)}\)?
1,000
1,200
1,750
1,800
1. TRANSLATE the problem information
- Given information:
- Ticket price = x increased by 20% of x
- Number of tickets sold = \(\mathrm{150 - 5x}\)
- Revenue \(\mathrm{R(x) = price \times number~of~tickets}\)
- Need to find \(\mathrm{R(10)}\)
- What this tells us:
- Price = \(\mathrm{x + 0.20x = 1.20x}\) dollars
- Quantity = \(\mathrm{150 - 5x}\) tickets
2. INFER what we need to do
- To find \(\mathrm{R(10)}\), we need to substitute \(\mathrm{x = 10}\) into our revenue formula
- This means calculating both the price and quantity when \(\mathrm{x = 10}\)
- Then multiply them together for the revenue
3. SIMPLIFY by substituting x = 10
- Price when \(\mathrm{x = 10}\): \(\mathrm{1.20(10) = 12}\) dollars
- Quantity when \(\mathrm{x = 10}\): \(\mathrm{150 - 5(10) = 150 - 50 = 100}\) tickets
- Revenue: \(\mathrm{R(10) = 12 \times 100 = 1,200}\) dollars
Answer: B. 1,200
Why Students Usually Falter on This Problem
Most Common Error Path:
Weak TRANSLATE skill: Students may interpret "x increased by 20% of x" incorrectly as \(\mathrm{x + 20}\) instead of \(\mathrm{x + 0.20x}\).
If they use price = \(\mathrm{x + 20}\), then when \(\mathrm{x = 10}\):
- Price = \(\mathrm{10 + 20 = 30}\) dollars
- Quantity = \(\mathrm{150 - 5(10) = 100}\) tickets
- Revenue = \(\mathrm{30 \times 100 = 3,000}\) dollars
This doesn't match any answer choice, leading to confusion and guessing.
Second Most Common Error:
Poor SIMPLIFY execution: Students correctly set up \(\mathrm{1.20x}\) but make arithmetic errors in the final calculation.
For example, they might calculate \(\mathrm{1.20 \times 10 = 10.20}\) instead of 12, leading to:
- Revenue = \(\mathrm{10.20 \times 100 = 1,020}\) dollars
This also doesn't match any answer choice, causing them to second-guess their approach.
The Bottom Line:
This problem tests your ability to translate percentage language into mathematical expressions. The key insight is recognizing that "increased by 20%" means multiplying by 1.20, not adding 20.
1,000
1,200
1,750
1,800