SOLUTION: Attendance at a cinema decreased by 12 %. How many percent should the price of the movie ticket be raised so that the revenue would only decrease by 5 %?

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Question 559956: Attendance at a cinema decreased by 12 %. How many percent should the price of
the movie ticket be raised so that the revenue would only decrease by 5 %?
Answer by ankor@dixie-net.com(15667) About Me  (Show Source):
You can put this solution on YOUR website!
Attendance at a cinema decreased by 12 %.
How many percent should the price of the movie ticket be raised so that the revenue would only decrease by 5 %?
:
Assume there are 100 at $1 each in attendance originally
A 12% decrease means only $88 in revenue
A 5% decrease mean $95 in revenue
95 - 88 = 7% increase in price to have 95% revenue