A clothing store acquired an item at a cost of x dollars and

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A clothing store acquired an item at a cost of x dollars and [#permalink]

01 Oct 2012, 05:14

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The Official Guide for GMAT® Review, 13th Edition - Quantitative Questions Project

A clothing store acquired an item at a cost of x dollars and sold the item for y dollars. The store's gross profit from the item was what percent of its cost for the item?

(1) y - x = 20
(2) y/x = 5/4

Practice Questions
Question: 51
Page: 279
Difficulty: 600

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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

01 Oct 2012, 05:15

SOLUTION

A clothing store acquired an item at a cost of x dollars and sold the item for y dollars. The store's gross profit from the item was what percent of its cost for the item?

We need to find the value of \frac{y-x}{x}*100=(\frac{y}{x}-\frac{x}{x})*100=(\frac{y}{x}-1)*100. So, basically we need to find the value of \frac{y}{x}.

(1) y - x = 20. We cannot get the desired ratio from this statement. Not sufficient.
(2) y/x = 5/4. Directly gives us the value of \frac{y}{x}. Sufficient.

Answer: B.
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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

01 Oct 2012, 07:55

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tricky one. I picked D but is wrong. Answer should be B

here: P = Revenues - Costs. for instance I have R = 30 C = 10 so y - x = 20. In my example I know x and y but from 1) we do not have them sio INSUFF

2) y = 5 x = 4-----> R = 5 and C = 4 so C = 100 andR = 125. We have 25 % that is what we are looking for SUFF

B shoould be the answer
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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

01 Oct 2012, 10:52

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Bunuel wrote:

Practice Questions
Question: 51
Page: 279
Difficulty: 600

The gross profit is y-x. The question asks for the ratio \frac{y-x}{x}.

(1) No information about x.
Not sufficient.

(2) Since \frac{y-x}{x}=\frac{y}{x}-\frac{x}{x}=\frac{y}{x}-1, sufficient.

Answer B.
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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

01 Oct 2012, 20:15

Answer is B
(Again Same explanation as of Eva's)
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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

04 Oct 2012, 14:26

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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

04 Oct 2012, 14:36

Bunuel

Your method to rephrase a stem is simply unbelievable. Of course the most important thing during the exam is to have the right solution under time constrain, no matter what......but wow

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Re: A clothing store acquired an item at a cost of x dollars and [#permalink] 04 Oct 2012, 14:36

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A clothing store acquired an item at a cost of x dollars and

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A clothing store acquired an item at a cost of x dollars and

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