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If lot B sold for exactly 90% of its purchase price, with the information from both statements, Lana took a loss. But we are told it sold for more than 90% of price, so it could be a profit depending on how much more than 90%. I plugged in a couple values and at 90% it's a loss.
We know that if she sold the second property for 90% it's a loss, and even if at 91% it's a profit, we don't know that she sold it for 91%. All we know is she sold it for more than 90% - it could be 90.0001%. So we can't know if it was a profit or a loss.
Lana bought two lots last year and sold both of them yesterday. If the selling price of lot B was twice that of lot A, did Lana make a profit on the sale of these two lots? (1) Lana sold lot A for 20% more than its purchase price. (2) Lana sold lot B for more than 90% of its purchase price.
I think we had enough of discussion . OA Please
Let me clearify myself:
CP (A) = a
SP (A) = 1.2a
SP (B) = 2.4a
CP(B) = 2.4a/.9 = 8a/3
so the profit (losss) = SP - CP
= (1.2a + 2.4a) - (a + 8a/3)
= 3.6a - 11a/3
= (10.8a - 11a)/3
= - 0.2a/3
if we consider SP (B) as 92.31% of its CP, then there would be no loss no gain.
if SP (B) is > 92.31% of its purchase price, the profit is +ve. so the statements are insufficient and its E.
Lana bought two lots last year and sold both of them yesterday. If the selling price of lot B was twice that of lot A, did Lana make a profit on the sale of these two lots?
(1) Lana sold lot A for 20% more than its purchase price. (2) Lana sold lot B for more than 90% of its purchase price.
Suppose the selling price of A was x. Then the selling price of B was 2x and the question can be rephrased as follows: Is the sum of the purchase prices of A and B less than 3x?
Neither is sufficient by itself: (1) says the purchase price of A is 5x/6, (2) says that the purchase price of B is less than 20x/9.
Together, (1) and (2) tell us that the sum of the purchase prices is less than 5x/6 + 20x/9 = 15x/18 + 40x/18 =55x/18 > 3x.
Thus Lana may or may not have made a profit.