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# A jewelry dealer initially offered a bracelet for sale at an

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Manager
Joined: 05 Sep 2007
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A jewelry dealer initially offered a bracelet for sale at an [#permalink]  11 Apr 2008, 19:48
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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.
Manager
Joined: 02 Mar 2008
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Concentration: Finance, Strategy
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Kudos [?]: 40 [2] , given: 1

Re: DS: % [#permalink]  11 Apr 2008, 20:03
2
KUDOS
D
everything can be reduced to certain % of original cost, so only need 1 equation to solve
SVP
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Re: DS: % [#permalink]  11 Apr 2008, 20:55
el1981 wrote:
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.

C-trap

The always answer for C-trap is A or B, here is A
Let take a look at:
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Intern
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Re: DS: % [#permalink]  12 Apr 2008, 06:39
guys, i'm confused... what is the answer?
CEO
Joined: 17 Nov 2007
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Re: DS: % [#permalink]  12 Apr 2008, 06:52
Expert's post
sondenso wrote:
C-trap

This is exactly my first thought: a typical C-trap....

x - original cost.

1) it seems to be insufficient, but 1.4x*0.9-x=403. sufficient
2) obviously insufficient and support the fist condition.
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Senior Manager
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Re: DS: % [#permalink]  12 Apr 2008, 07:22
Can anyone explain why statement 2 is in sufficient ?
Manager
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Re: DS: % [#permalink]  12 Apr 2008, 07:35
hmm, for 2 i thought that 1.4x = 1953? why is it not sufficient?
CEO
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Concentration: Entrepreneurship, Other
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Re: DS: % [#permalink]  12 Apr 2008, 08:24
Expert's post
AlbertNTN wrote:
hmm, for 2 i thought that 1.4x = 1953? why is it not sufficient?

There are two different prices: initially offered and "sell" price.

el1981 wrote:
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.

_________________

HOT! GMAT TOOLKIT 2 (iOS) / GMAT TOOLKIT (Android) - The OFFICIAL GMAT CLUB PREP APP, a must-have app especially if you aim at 700+ | PrepGame

Re: DS: %   [#permalink] 12 Apr 2008, 08:24
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