Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized for You

we will pick new questions that match your level based on your Timer History

Track Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

It appears that you are browsing the GMAT Club forum unregistered!

Signing up is free, quick, and confidential.
Join other 350,000 members and get the full benefits of GMAT Club

Registration gives you:

Tests

Take 11 tests and quizzes from GMAT Club and leading GMAT prep companies such as Manhattan GMAT,
Knewton, and others. All are free for GMAT Club members.

Applicant Stats

View detailed applicant stats such as GPA, GMAT score, work experience, location, application
status, and more

Books/Downloads

Download thousands of study notes,
question collections, GMAT Club’s
Grammar and Math books.
All are free!

Thank you for using the timer!
We noticed you are actually not timing your practice. Click the START button first next time you use the timer.
There are many benefits to timing your practice, including:

In Greenville last July, what was the average (arithmetic [#permalink]
21 Sep 2012, 07:38

1

This post received KUDOS

1

This post was BOOKMARKED

00:00

A

B

C

D

E

Difficulty:

(N/A)

Question Stats:

95% (01:41) correct
5% (01:37) wrong based on 128 sessions

In Greenville last July, what was the average (arithmetic mean) home sale price?

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. (2) In Greenville last July, condominiums accounted for 60% of the home sales, and the average condominium price was $450,000.

Re: In Greenville last July, what was the average (arithmetic [#permalink]
30 Sep 2012, 22:21

Expert's post

rohitgarg wrote:

In Greenville last July, what was the average (arithmetic mean) home sale price?

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. (2) In Greenville last July, condominiums accounted for 60% of the home sales, and the average condominium price was $450,000.

I have two documents. Both have different answers. Please explain.

I think people can interpret it in different ways and hence arrive at different answers.

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. It is a little unclear whether only 100 homes were sold or the data is about 100 out of all the homes sold. _________________

Re: In Greenville last July, what was the average (arithmetic [#permalink]
06 Oct 2012, 05:18

rohitgarg wrote:

In Greenville last July, what was the average (arithmetic mean) home sale price?

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. (2) In Greenville last July, condominiums accounted for 60% of the home sales, and the average condominium price was $450,000.

Re: In Greenville last July, what was the average (arithmetic [#permalink]
23 Jan 2013, 05:15

rohitgarg wrote:

In Greenville last July, what was the average (arithmetic mean) home sale price?

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. (2) In Greenville last July, condominiums accounted for 60% of the home sales, and the average condominium price was $450,000.

I think the wording of this question is unclear.

My answer:

If 100 homes represent the total units inclusive of condominiums: 1. 51,000,000 / 100 will give us the answer. SUFFICIENT. 2. .6 (450,000) + .4P =? INSUFFICIENT.

Answer: A

If 100 homes represent part of the total only... 1. INSUFFICIENT. 2. .6 (450,000) + .4P =? INSUFFICIENT.

Together (1) and (2): 100 is .4x ==> x = 1000/4 = 250

\(= .6 (250) (450,000) + 51,000,000 / 250\) which is SUFFICIENT

Re: In Greenville last July, what was the average (arithmetic [#permalink]
26 Jan 2013, 09:30

mbaiseasy wrote:

rohitgarg wrote:

In Greenville last July, what was the average (arithmetic mean) home sale price?

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. (2) In Greenville last July, condominiums accounted for 60% of the home sales, and the average condominium price was $450,000.

I think the wording of this question is unclear.

My answer:

If 100 homes represent the total units inclusive of condominiums: 1. 51,000,000 / 100 will give us the answer. SUFFICIENT. 2. .6 (450,000) + .4P =? INSUFFICIENT.

Answer: A

If 100 homes represent part of the total only... 1. INSUFFICIENT. 2. .6 (450,000) + .4P =? INSUFFICIENT.

Together (1) and (2): 100 is .4x ==> x = 1000/4 = 250

\(= .6 (250) (450,000) + 51,000,000 / 250\) which is SUFFICIENT

Answer: C

___________________________

1) total ammmount (51Mil)/no.of houses(100) = Average : Sufficent 2) 60%house hold = 450,000 from this we can find out 100% of house fold

Both are sufficient - D

Could any one please confirm me the right answer?

Last edited by schittuluri on 27 Jan 2013, 14:01, edited 4 times in total.

Re: In Greenville last July, what was the average (arithmetic [#permalink]
26 Jan 2013, 09:30

mbaiseasy wrote:

rohitgarg wrote:

In Greenville last July, what was the average (arithmetic mean) home sale price?

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. (2) In Greenville last July, condominiums accounted for 60% of the home sales, and the average condominium price was $450,000.

I think the wording of this question is unclear.

My answer:

If 100 homes represent the total units inclusive of condominiums: 1. 51,000,000 / 100 will give us the answer. SUFFICIENT. 2. .6 (450,000) + .4P =? INSUFFICIENT.

Answer: A

If 100 homes represent part of the total only... 1. INSUFFICIENT. 2. .6 (450,000) + .4P =? INSUFFICIENT.

Together (1) and (2): 100 is .4x ==> x = 1000/4 = 250

\(= .6 (250) (450,000) + 51,000,000 / 250\) which is SUFFICIENT

Answer: C

___________________________

1) total ammmount (51Mil)/no.of houses(100) = Average : Sufficent 2) 60%house hold = 450,000 from this we can find out 100% of house fold

Re: In Greenville last July, what was the average (arithmetic [#permalink]
26 Jan 2013, 18:03

1

This post received KUDOS

Expert's post

Sachin9 wrote:

how on earth would one know what a condominium is ..

If you come across words you are unfamiliar with, try to figure out the meaning from context.

Statement 2 says 'condominiums accounted for 60% of the home sales'. This means it is some kind of home since its sales figure was included in the home sales figure.

Also, GMAT questions don't use arcane words but you must try to familiarize yourself with the regular use words by reading more. _________________

Re: In Greenville last July, what was the average (arithmetic [#permalink]
25 Aug 2013, 20:06

Quote:

___________________________

1) total ammmount (51Mil)/no.of houses(100) = Average : Sufficent 2) 60%house hold = 450,000 from this we can find out 100% of house fold

Both are sufficient - D

Hi schittuluri,

60%house hold = 450,000 -not true The question says that the avg condominium price is $450,000 , not the total price. So, 60%house hold = 450,000 * n (where n is the number of condominiums sold). Since we dont know the value of n. B is not sufficient _________________

Re: In Greenville last July, what was the average (arithmetic [#permalink]
08 Sep 2014, 20:57

My answer is A,

Target Question: Avg cost , So we need total number of houses 1, Total 100 homes and cost given Can find an Average But Doubt, Average mean some Of individual cost of each home/100 Here Can we assume that each cost of home is same , Even the set of values might be small or big??

2, know avg cost of 60% houses , No idea about left 40% So Insufficient

Re: In Greenville last July, what was the average (arithmetic [#permalink]
22 Apr 2015, 10:32

My Answer:

Average = Sum of home sales prices/Number of homes sold.

(a) Average home price is $51,000,000/100 = $510,000. But we are not sure how many homes were there overall (may be more than 100). So INSUFFICIENT

(b) From this statement, we don’t know anything about the other 40% of homes sold in Greenville, so we cannot calculate the average home sale price. INSUFFICIENT.

Answer is E. _________________

Commitment is about stretching your capabilities. It can take you across all obstacles!!

gmatclubot

Re: In Greenville last July, what was the average (arithmetic
[#permalink]
22 Apr 2015, 10:32

Hello everyone! Researching, networking, and understanding the “feel” for a school are all part of the essential journey to a top MBA. Wouldn’t it be great... ...

Are you interested in applying to business school? If you are seeking advice about the admissions process, such as how to select your targeted schools, then send your questions...

A lot of readers have asked me what benefits the Duke MBA has brought me. The MBA is a huge upfront investment and the opportunity cost is high. Most...