Find all School-related info fast with the new School-Specific MBA Forum
Learn more about the recent changes... close

It is currently 25 May 2013, 02:49
Customize  |  Hide

Search
Register
New posts
Unanswered

Benny, a real estate agent, receives a commission of 8

  Question banks Downloads My Bookmarks Reviews  
  Oldest Best Reply
Search for:
 
Print view
First unread post
Author Message
TAGS:
Manager
Manager
Joined: 21 May 2011
Posts: 249
Followers: 0

Kudos [?]: 44 [0], given: 8

Benny, a real estate agent, receives a commission of 8 [#permalink] New post 24 Jul 2011, 15:38
00:00

Question Stats:

40% (01:20) correct 60% (00:15) wrong based on 1 sessions
Benny, a real estate agent, receives a commission of 8 percent of the selling price for every house he sells. What was the selling price of the house he sold most recently?

(1) The selling price was 300 percent greater than the original purchase price.

(2) The selling price minus Benny's commission was $176,088.
Senior Manager
Senior Manager
Joined: 24 Mar 2011
Posts: 479
Location: Texas
Followers: 4

Kudos [?]: 33 [0], given: 20

Re: DS - 700 level - commission [#permalink] New post 24 Jul 2011, 16:23
bschool83 wrote:
Benny, a real estate agent, receives a commission of 8 percent of the selling price for every house he sells. What was the selling price of the house he sold most recently?

(1) The selling price was 300 percent greater than the original purchase price.

(2) The selling price minus Benny's commission was $176,088.


will go with B.

from the question stem commission = 8% of SP

1st statement does not provide any info on original or selling price...

2nd statement implies SP - commission = 176,088
i.e. SP - 0.08 SP = 176,088

0.92 SP = 176,088 i.e. SP = 176,088/0.92 ~ 200,000
Intern
Intern
Joined: 15 Mar 2010
Posts: 13
Followers: 0

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

Re: DS - 700 level - commission [#permalink] New post 24 Jul 2011, 21:34
Stmt 1: doesn't give any SP value only the percent. Insuff

Stmt2: SP - Benny's commission = 176088
SP - (8/100)*SP = 176088

Hence Suff. Ans : B
Re: DS - 700 level - commission   [#permalink] 24 Jul 2011, 21:34
    Similar topics Author Replies Last post
Similar
Topics:
 New posts How much commission did an agent receive on the sale of a becoolja 2 22 May 2004, 07:23
New posts Many real estate agents assert that the rising inflation GMATT73 6 23 Nov 2005, 20:04
New posts Real Estate kidderek 8 03 Jul 2007, 23:13
New posts EXPERTS_POSTS_IN_THIS_TOPIC In some countries, real estate agents negotiating with eybrj2 3 23 Mar 2012, 00:58
New posts Real Estate Agent: Next year, the occupancy rate for GetThisDone 1 05 May 2012, 22:58
Display posts from previous: Sort by

Benny, a real estate agent, receives a commission of 8

  Question banks Downloads My Bookmarks Reviews  
Print view
First unread post

Moderators: Bunuel, VeritasPrepKarishma, IanStewart

Search for:


cron

GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.

Main navigation

GMAT Resources

Partners

MBA Resources

www.gmac.com|www.mba.com