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A jewelry dealer initially offered a bracelet for sale at an

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Joined: 31 Oct 2007
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A jewelry dealer initially offered a bracelet for sale at an [#permalink] New post 21 Mar 2008, 23:32
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22. A jewelry dealer initially offered a bracelet for sale at an asking price that would give a profit to the dealer of 40 percent of the original cost. What was the original cost of the bracelet?
(1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of $403.
(2) The jewelry dealer sold the bracelet for $1,953.

Pls explain. The answer I got is D but OA says A. Why Statement 2 is not sufficient?
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Jimmy Low, Frankfurt, Germany
Blog: http://mytrainmaster.wordpress.com
GMAT Malaysia: http://gmatmalaysia.blogspot.com

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Re: 1000DS: Section 1 Question 22 [#permalink] New post 21 Mar 2008, 23:36
jimmylow wrote:
22. A jewelry dealer initially offered a bracelet for sale at an asking price that would give a profit to the dealer of 40 percent of the original cost. What was the original cost of the bracelet?
(1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of $403.
(2) The jewelry dealer sold the bracelet for $1,953.

Pls explain. The answer I got is D but OA says A. Why Statement 2 is not sufficient?



Do you see the difference btw the 1 and the 2? the 2 has no connection with "asking price", that is why you cannot know what the "asking price" is?
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Manager
Manager
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Joined: 31 Oct 2007
Posts: 115
Location: Frankfurt, Germany
Followers: 1

Kudos [?]: 23 [0], given: 0

Re: 1000DS: Section 1 Question 22 [#permalink] New post 21 Mar 2008, 23:40
sondenso wrote:
Do you see the difference btw the 1 and the 2? the 2 has no connection with "asking price", that is why you cannot know what the "asking price" is?


So, what the jewelry dealer sold for may not be the asking price? Am I right to say this?
_________________

Jimmy Low, Frankfurt, Germany
Blog: http://mytrainmaster.wordpress.com
GMAT Malaysia: http://gmatmalaysia.blogspot.com

Re: 1000DS: Section 1 Question 22   [#permalink] 21 Mar 2008, 23:40
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