GRE Test exam material & Free GRE Test AI Tutor

QUESTION: 76

A volume of 30 cubic feet is equal to approximately how many gallons? (1 foot = 12 inches, and 1 gallon = 231 cubic inches.)

Answer(s): B

Explanation:

First, convert the volume from cubic feet to cubic inches. Since 1foot = 12inches, we have:
1cubic foot = (12inches)3 = 12 × 12 × 12 = 1,728cubic inches
Thus, 30 cubic feet is:
30cubic feet = 30 × 1,728 = 51,840cubic inches
Since 1 gallon = 231 cubic inches, we can convert the volume in cubic inches to gallons:

Thus, 30 cubic feet is approximately 225 gallons.

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QUESTION: 77

Total revenue from the sale of 5,100 concert tickets was $205,000. If each ticket was sold for either $30 or $50, what was the revenue from the sale of the $50 tickets?

$26,000
$52,000
$75,000
$123,000
$130,000

Answer(s): E

Explanation:

Let the number of $30 tickets sold be denoted as x and the number of $50 tickets sold be denoted as y.
1. The total number of tickets sold is 5,100:
x + y = 5,100
The total revenue from the sale of the tickets is $205,000. The revenue from selling x tickets at $30 each and y tickets at $50 each is:
30x + 50y = 205,000
x = 5,100 - y
30(5,100 - y) + 50y = 205,000
30 × 5,100 - 30y + 50y = 205,000
153,000 - 30y + 50y = 205,000
153,000 + 20y = 205,000
20y = 52,000

The number of $50 tickets sold is y = 2,600, and the revenue from these tickets is:
50 × 2,600 = 130,000

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QUESTION: 78

Irene had $20,000 in savings. She used some of her savings to purchase a computer. Of the amount remaining, she invested 40 percent at 6 percent simple annual interest, and the rest at 10 percent simple annual interest. If Irene's income from the interest totaled $1,260 for the first year, how much of her savings did she use to purchase the computer?

$3,000
$3,421
$4,000
$5,000
$6,875

Answer(s): D

Explanation:

Let x be the amount of Irene's savings that she used to purchase the computer. This means that the remaining savings after purchasing the computer is 20,000 - x.
Irene invested 40 percent of the remaining savings at 6 percent interest. The amount invested at 6 percent is 0.4(20,000 - x).
The remaining 60 percent of the remaining savings was invested at 10 percent interest. The amount invested at 10 percent is 0.6(20,000 - x).
The interest earned from each investment can be calculated using the formula for simple interest:
Interest = Principal × Rate × Time
In this case, the time is 1 year.
The interest from the 6 percent investment is:

0.4(20,000 - x) × 0.06
The interest from the 10 percent investment is:

0.6(20,000 - x) × 0.10
The total interest Irene earned is $1,260, so we can set up the following equation:
0.4(20,000 - x) × 0.06 + 0.6(20,000 - x) × 0.10 = 1,260
0.4(20,000 - x) × 0.06 = 0.024(20,000 - x)
0.6(20,000 - x) × 0.10 = 0.06(20,000 - x)
0.024(20,000 - x) + 0.06(20,000 - x) = 1,260
(0.024 + 0.06)(20,000 - x) = 1,260
0.084(20,000 - x) = 1,260

x = 20,000 - 15,000 = 5,000

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QUESTION: 79

The cost of producing 1 unit of a product at a certain manufacturing company is $0.75. According to a sales model, if each unit has a selling price of $1.00, the company expects to sell 1,000 units each month. For each $0.05 increase in the unit selling price, the company expects to see a decrease of 100 units sold each month. According to the model, which of the following could be a unit selling price at which the company would expect a profit of at least $250.00 each month? (Profit equals revenue minus cost.) (Choose all that apply.)

$1.05
$1.10
$1.20
$1.30
$1.35

Answer(s): A,B,C

Explanation:

Revenue is given by the selling price per unit multiplied by the number of units sold.

Cost is given by the cost per unit multiplied by the number of units produced.

Let the unit selling price be represented by p. If the price increases by $0.05, the number of units sold decreases by 100. Thus, the number of units sold can be written as:

Profit = Revenue - Cost

We want the profit to be at least $250. Let's plug in the equations for revenue and cost and solve for p:
For p = 1.05:

For p = 1.10:

For p = 1.20:

For p = 1.30:

For p = 1.35:

The valid unit selling prices at which the company would expect a profit of at least $250.00 are $1.05, $1.10, and $1.20.

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QUESTION: 80

A company has assets worth $150,000 and liabilities worth $70,000, giving it an asset-to-liability ratio of approximately 2.1. The company will borrow x dollars, and the amount borrowed will be added to both the assets and the liabilities. If the asset-to-liability ratio is to be greater than 1.2 after the money is borrowed, which of the following could be the value of x? (Choose all that apply.)

300,000
320,000
340,000
360,000

Answer(s): A,B

Explanation:

The initial asset-to-liability ratio is given as approximately 2.1, with assets of $150,000 and liabilities of $70,000.
The formula for the asset-to-liability ratio is:

After the company borrows x dollars, both the assets and liabilities increase by x. So:
New assets = 150,000 + x

New liabilities = 70,000 + x

We are told that the asset-to-liability ratio must be greater than 1.2:

To solve for x, we first multiply both sides of the inequality by 70,000 + x to eliminate the denominator (assuming 70,000 + x > 0):
150,000 + x > 1.2(70,000 + x)
150,000 + x > 84,000 + 1.2x
150,000 - 84,000 > 1.2x - x
66,000 > 0.2x

We have determined that x must be less than 330,000 to satisfy the condition that the asset-to-liability ratio is greater than 1.2. Now, we check the options:
300,000: This value is less than 330,000, so it is a valid solution.

320,000: This value is less than 330,000, so it is a valid solution.

340,000: This value is greater than 330,000, so it is not a valid solution.

360,000: This value is greater than 330,000, so it is not a valid solution.

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What the GRE Test Exam Tests and How to Pass It

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What the GRE Test Exam Covers

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Are These Real GRE Test Exam Questions?

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GRE GRE Test Exam Prep Graduate Record Examination Test: Verbal, Quantitative, Analytical Writing (Page 17 )

QUESTION: 76

Explanation:

QUESTION: 77

Explanation:

QUESTION: 78

Explanation:

QUESTION: 79

Explanation:

QUESTION: 80

Explanation:

What the GRE Test Exam Tests and How to Pass It

What the GRE Test Exam Covers

Are These Real GRE Test Exam Questions?

How to Prepare for the GRE Test Exam

What to Expect on Exam Day

Who Should Use These GRE Test Practice Questions

GRE GRE Test Exam Prep
Graduate Record Examination Test: Verbal, Quantitative, Analytical Writing (Page 17 )