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A computer dealer initially offered a laptop for sale at a price that

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Bunuel
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A computer dealer initially offered a laptop for sale at a price that [#permalink] New post   26 May 2022, 02:18
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53% (01:24) correct 48% (01:14) wrong based on 40 sessions
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A computer dealer initially offered a laptop for sale at a price that would have given him a 25% profit over his cost. What was his cost (in dollars)?

(1) The computer dealer eventually sold the laptop for $1150.
(2) After the laptop was rated highly by a PC magazine, the computer dealer raised the price 15% and sold it for a profit of $350.
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Re: A computer dealer initially offered a laptop for sale at a price that [#permalink] New post   26 May 2022, 23:07
Answer has to be OPTION B

Clearly Statement I is insufficient. We don't eventually he sold at what profit %. Statement II is sufficient, because we now know the missing link profit % and profit value. Thus cost price can be calculated. On calculation we get the exact value of $800.
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Re: A computer dealer initially offered a laptop for sale at a price that [#permalink] New post   29 Oct 2022, 11:22
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https://gmatclub.com/forum/a-jewelry-de ... 89044.html
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Re: A computer dealer initially offered a laptop for sale at a price that [#permalink] New post   02 Nov 2022, 09:15
Expert Reply
Bunuel wrote:
A computer dealer initially offered a laptop for sale at a price that would have given him a 25% profit over his cost. What was his cost (in dollars)?

(1) The computer dealer eventually sold the laptop for $1150.
(2) After the laptop was rated highly by a PC magazine, the computer dealer raised the price 15% and sold it for a profit of $350.

Solution:
Pre Analysis:
  • Let the CP of the laptop be \($x\)
  • According to the question stem, the marked price of the laptop is \(MP=x(1+\frac{25}{100})=1.25x\)
  • We are asked the value of \(x\)

Statement 1: The computer dealer eventually sold the laptop for $1150
  • Accoridng to this statement \(SP=1150\) which doesn't help us in getting the value of x
  • If we knew that the laptop is sold at the MP with no further discount then we could have written 1150=1.\(\)25x
  • However, that information is not known
  • Thus, statement 1 alone is not sufficient and we can eliminate options A and D

Statement 2: After the laptop was rated highly by a PC magazine, the computer dealer raised the price 15% and sold it for a profit of $350
  • According to this question, \(SP=1.25x(1+\frac{15}{100})=1.25x\times 1.15\)\(\)
  • And \(1.25x\times 1.15-x=350\)\(\) which can be solved to get the value of x
  • Thus, statement 2 alone is sufficient

Hence the right answer is Option B
GMAT Club Bot
gmatclubot
Re: A computer dealer initially offered a laptop for sale at a price that [#permalink]
02 Nov 2022, 09:15
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Bunuel
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