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In 1999, Company X's gross profit was what percent of its

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Re: gmatprep DS question [#permalink] New post 09 Aug 2009, 03:26
ankur55 wrote:
I got this question in gmatprep test today

In 1999 Company X's gross profit was what percent of its revenue?

A) In 1999 Comapny X's gross profit was 1/3 of its expenses.
B) In 1999 Company X's expenses were 3/4 of its revenue.


profit = rev - exp, what is p/r
from 1
p =1/3e ,
rev = 1/3+1 e = 4/3 e, thus p/r = (1/3e)/(4/3e)...suff

from 2

suff
i d say D
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Company X's profit [#permalink] New post 19 Sep 2011, 07:54
In 1999 Company X's gross profit was what percent of its revenue?

1- In 1999 Company X's gross profit was 1/3 of its expenses.

2- In 1999 Company X's expenses were 3/4 of its revenue.




Requests: If anyone has the time or will, please elaborate on how to set these equations up and whether plugging in numbers will work well on a problem like this. I originally picked B, but was not sure whether C was the correct answer. Turns up the correct answer is
[Reveal] Spoiler:
D
.

Thanks
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Re: Company X's profit [#permalink] New post 20 Sep 2011, 05:09
milanproda wrote:
In 1999 Company X's gross profit was what percent of its revenue?

1- In 1999 Company X's gross profit was 1/3 of its expenses.

2- In 1999 Company X's expenses were 3/4 of its revenue.




Requests: If anyone has the time or will, please elaborate on how to set these equations up and whether plugging in numbers will work well on a problem like this. I originally picked B, but was not sure whether C was the correct answer. Turns up the correct answer is
[Reveal] Spoiler:
D
.

Thanks



To solve this problem we can consider below equation:
revenue - expenditure = profit,
we need to find out what percent of revenue was profit.

Option 1 : we know profit was 1/3 rd of expense so this information is sufficient to find out the ratio of revenue to profit

Option 2: Similar to option 1 we can find out.

So the answer is D.
Re: Company X's profit   [#permalink] 20 Sep 2011, 05:09
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