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Bill has d animals, 12 of which were sold at a profit of 10% [#permalink]

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01 Nov 2012, 22:59

2

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A

B

C

D

E

Difficulty:

25% (medium)

Question Stats:

74% (02:46) correct
26% (03:30) wrong based on 92 sessions

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Bill has d animals, 12 of which were sold at a profit of 10% each while the rest were sold at a loss of 20% each. Overall, Bill made neither a profit nor a loss. Which of the following is equal to d?

Re: Bill has d animals, 12 of which were sold at a profit of 10% [#permalink]

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01 Nov 2012, 23:21

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Again if we go by eliminating the option method,

ans A and B are out as they are value less then or eul to 12. Ans d = 12 sold at 10% profit while 12 sold at 20% loss , so here Loss will come which is contradicted to question stem.. Ans e = 12 sold at 10% profit while 24 sold at 20% los, so here also Loss will come which is contradicted to question stem..

only option C = 18 balances eqn ---> 12 at Profit and 6 at loss.

Re: Bill has d animals, 12 of which were sold at a profit of 10% [#permalink]

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02 Nov 2012, 12:33

bhavinshah5685 wrote:

Again if we go by eliminating the option method,

ans A and B are out as they are value less then or eul to 12. Ans d = 12 sold at 10% profit while 12 sold at 20% loss , so here Loss will come which is contradicted to question stem.. Ans e = 12 sold at 10% profit while 24 sold at 20% los, so here also Loss will come which is contradicted to question stem..

only option C = 18 balances eqn ---> 12 at Profit and 6 at loss.

Re: Bill has d animals, 12 of which were sold at a profit of 10% [#permalink]

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13 Feb 2015, 12:27

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Re: Bill has d animals, 12 of which were sold at a profit of 10% [#permalink]

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13 Feb 2015, 13:12

Expert's post

Hi All,

Since this question asks for the TOTAL number of animals, and the answers are numbers, this is a perfect opportunity to TEST THE ANSWERS.

We're told a few Facts about a group of animals: 1) There are D total animals 2) 12 of them are sold at a 10% profit 3) The rest are sold at a 20% loss 4) The profits and losses "cancel out"

We're asked to solve for D.

Since 12 animals were sold for a profit, while the rest were sold for a loss, the total number of animals MUST be MORE than 12. Eliminate A and B.

Since we need the profits and losses to cancel out, we're likely looking for a situation in which there were FEWER animals sold for a loss than were sold for a profit (since each individual 'loss' is so much bigger than each individual 'profit').

Let's TEST Answer C.... IF there were 18 animals, 12 were sold for a profit and 6 were sold for a loss.

IF....each animal costs $100 The 12 that were sold for a 10% profit --> $110 each ---> 12($10 profit each) = $120 profit The 6 that were sold for a 20% loss ---> $80 each --->6($20 loss each) = $120 loss

Here, the profits and losses cancel out, so C MUST be the answer.

Re: Bill has d animals, 12 of which were sold at a profit of 10% [#permalink]

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13 Apr 2016, 11:40

stonecold wrote:

How can Someone Assume that All the animals had the same initial price EMPOWERgmatRichC ?????????????//?????///??

Just in tune with EMPOWERgmatRichC s reasoning , but using alligation theory

Attachment:

Capture.PNG [ 6.68 KiB | Viewed 106 times ]

Further austin bro , we are told to find the

Quote:

Bill has d animals, 12 of which were sold at a profit of 10% each while the rest were sold at a loss of 20% each.Overall, Bill made neither a profit nor a loss.

If you do not take the base ( Cost Price same ) it will be difficult to reach the overall profit/loss situation....

PS : However I accept your arguement that the price of the animals may be different , but for simplicity's sake ( coz we are only interested in the overall profit / loss) we can safely assume Cost Price as 100

PPS : If you consider the price of the items different ,

Say Price of 12 animals is 100 and price of D - 12 animals be 200 you can reach the conclusion but it will be very very lengthy and complicated process.

Re: Bill has d animals, 12 of which were sold at a profit of 10% [#permalink]

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13 Apr 2016, 18:39

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Expert's post

Hi stonecold,

You bring up a good point. Whoever wrote this question did NOT do as good a job with defining the 'restrictions' of the prompt as the GMAT question writers do. The 'intent' of the question is to assume that all of the animals were purchased at the same price - you cannot answer it otherwise (and if a question such as this one were to appear on your Official GMAT, the prompt would include that information).

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