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A company makes two types of bicycles, racing bikes and [#permalink]
18 Apr 2007, 09:00
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A company makes two types of bicycles, racing bikes and mountain bikes. In its 2006 year-end report, the company reported that revenue from mountain bikes sales rose by 5% from 2005 to 2006 and that revenue from racing bike sales rose by 20% during the same period. Did the revenue from racing bike sales exceed 4 million dollars in 2006?
(1) The company's total revenue from bicycle sales in 2006 was between $11 million and $13 million and 10% higher than it was in 2005.
(2) More than 40% of the bicycles that the company sold in 2006 were racing bikes.
Taking the worst case revenue of $11m, we know in in 2005, the revenue was $9.9m
So if revenues of racing bikes = r, then revenues of mountain bikes = 9.9-r
In 2006, revenues of racing bikes = 1.2r and revenues of mountina bikes = 1.05(9.9-r)
So total revenue in 2006 = 1.2r + 1.05(9.9-r) = 11
We can solve for r. Sufficient.
We are still in the murky region here since all we know is the percentage of racing bikes:mountain bikes sold (in fact, even this figure is murky because we are told more than 40% are racing bikes). Nothing else is revealed. Insufficient.