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If a certain store purchased a computer game and then sold

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If a certain store purchased a computer game and then sold [#permalink] New post 17 Jan 2013, 04:18
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If a certain store purchased a computer game and then sold it for $50, was the store's gross profit from the purchase and sale of the game less than $8?

(1) The store 's gross profit from the purchase and sale of the game was less than 25 percent of the amount for which the store purchased the game
(2) The store 's gross profit from the purchase and sale of the game was greater than 10 percent of the amount for which the store purchased the game
[Reveal] Spoiler: OA

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Last edited by Bunuel on 17 Jan 2013, 04:24, edited 1 time in total.
Renamed the topic and edited the question.
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Re: If a certain store purchased a computer game and then sold [#permalink] New post 17 Jan 2013, 04:30
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If a certain store purchased a computer game and then sold it for $50, was the store's gross profit from the purchase and sale of the game less than $8?

The question asks whether 50 - {Cost} < 8. Or whether {Cost} > 42.

(1) The store 's gross profit from the purchase and sale of the game was less than 25 percent of the amount for which the store purchased the game. This statement implies that 50 - {Cost} < 0.25{Cost} --> {Cost} > 40. Not sufficient.

(2) The store 's gross profit from the purchase and sale of the game was greater than 10 percent of the amount for which the store purchased the game. This statement implies that 50 - {Cost} > 0.1{Cost} --> {Cost} < ~45. Not sufficient.

(1)+(2) We have that 40 < {Cost} < ~45. Still the cost can be more as well as less than or equal 42. Not sufficient.

Answer: E.

P.S. Please tag questions properly. This is NOT an algebra question.
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Re: If a certain store purchased a computer game and then sold   [#permalink] 17 Jan 2013, 04:30
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