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I found this one tricky.. A jewelery dealer offered a

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New post 22 Oct 2006, 15:48
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I found this one tricky..

A jewelery dealer offered a bracelet for sale at an asking price that would give profit to the dealer of 40% of the original cost. What was the original cost of the bracelet

1) After reducing this asking price by 10%, the jewelery dealer sold the bracelet at a profit of $ 403..

2) The jewelery dealer sold the bracelet for $1953
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New post 22 Oct 2006, 15:54
A jewelery dealer offered a bracelet for sale at an asking price that would give profit to the dealer of 40% of the original cost. What was the original cost of the bracelet

1) After reducing this asking price by 10%, the jewelery dealer sold the bracelet at a profit of $ 403..

2) The jewelery dealer sold the bracelet for $1953

ORIGINAL COST = X

ASKING PRICE = Y ( MIGHT = OR NOT TO SALES PRICE)

PROFIT = SALES PRICE ( IF EQUALL TO ASKING PRICE) -X = 0.4X IE : SALES PRICE ( ONLY IF EQUALL TO SALES PRICE) = 1.4 X

WHAT IS X

FROM ONE

0.9Y - X = 403..........NOT SUFF

FROM TWO

SALES PRICE = 1953........NOT SUFF

BOTH

0.9Y = 1953 Y = 2170

2170-X =403

X= 1767

MY ANSWER IS C
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New post 22 Oct 2006, 19:14
A

Explanation
Say x is the original price
Asking price = x * 140/100 = 7x /5

From 1 - sufficient
10 % reduction on asking price = (7x)/5 * 90/100 = (63x)/50
Now 63x/50 – x = profit = 403
x = 1550

From 2 - insufficient
We just know the selling price $ 1953...we do not know the % of reduction or profit...
Can’t assume he sold it in asking price
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New post 25 Oct 2006, 19:25
Agree with A

Original Cost = x
Original Sale price = 1.4 X (Forty percent markup)
Reduced price at 10% discount = 0.9*1.4x

From A
0.9*1.4x - x = 403
Solve for X
Suff.

From B
Insuff
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New post 25 Oct 2006, 20:42
St1 is suff...

Since a 10% discount was offered on asking price. Let original asking price be A. 0.9a=403 obtain the value of A. Let original cost be C. Its given that 1.4C =A. Solve to get C


St2 Just specifies the selling price so not suff

My pick is A.

What is OA?
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Answer D [#permalink]

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New post 26 Oct 2006, 08:26
A jewelery dealer offered a bracelet for sale at an asking price that would give profit to the dealer of 40% of the original cost. What was the original cost of the bracelet

1) After reducing this asking price by 10%, the jewelery dealer sold the bracelet at a profit of $ 403..

2) The jewelery dealer sold the bracelet for $1953

x is CP For 40% profit SP=1.4x

1) 10% reduction in SP = 1.4x*.9=1.26x

1.26x-x=403==> x= 403/0.26


Suff


2) 1.4x=1953 so x=1953/1.4

Suff
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New post 26 Oct 2006, 10:04
A for me too.
Damager, we can not assume that he sold for the asking price.
1.4x was the asking price. He might not have got that much or any profit when he sold it.
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New post 26 Oct 2006, 14:24
Late but A!
Forget about the calculations, it would make u loose precious time. St. B I think just gives u the final number, maybe this wasn't the only sale or deduction he made, therefore meeting a smaller profit than a 40% -> insufficient.
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New post 27 Oct 2006, 02:40
can somebody explain it more...! why b is cannot give a single solution..!
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New post 27 Oct 2006, 21:09
i get it now.

b is insuff because b is the selling price, but you need asking price.
  [#permalink] 27 Oct 2006, 21:09
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