A certain store has decided that it will reduce all prices based on a formula. If a price of an article costing $8 will be reduced to $x, what is the original price of an article whose price will be reduced to $3
2.The formula is: the reduced price equals the original price minus two.
The official answer is : A
Based on (1) we can make different assumptions .e.g the reduced price equals the original price minus two OR the discount percentage is 25%. Based o the former , we get 5 as the original price and based on the latter we get 4. In short (1) is not sufficient and thus A is not right. Just wondering what you guys think?
No, everybody. The answer here is B.
In 1) the formula could be anything that maps 8 to 6. Hence we have no idea what number maps to 3. (e.g. formula could be subtract 2 or could be multiply by 3/4).
In 2) the formula is given explicitly, hence 5 is the only number that can map to 3.
Answer is B.
Former Senior Instructor, Manhattan GMAT and VeritasPrep
Vice President, Midtown NYC Investment Bank, Structured Finance IT
MFE, Haas School of Business, UC Berkeley, Class of 2005
MBA, Anderson School of Management, UCLA, Class of 1993