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 500,000 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:
Lana bought two lots last year and sold both of them [#permalink]
31 Jul 2007, 09:16
00:00
A
B
C
D
E
Difficulty:
(N/A)
Question Stats:
0% (00:00) correct
0% (00:00) wrong based on 1 sessions
This topic is locked. If you want to discuss this question please re-post it in the respective forum.
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.
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.
C:
1: we do not know about the purchase price of B. nsf.
2: we do not know about the purchase price of A. nsf.
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.
I sleeped on 90%, which i assumed as 190%, in B. with 90%, it is perfectly make sense to go with E.
Himalayan wrote:
kevincan wrote:
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.
C:
1: we do not know about the purchase price of B. nsf. 2: we do not know about the purchase price of A. nsf.
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.
I think we are getting confused with the varbage of statement 2.
"Lana sold lot B for more than 90% of its purchase price."
Depends on how you interpret it .
If you interpret
Lana made 90% profit on purchased price : answer is C
and
If you interpret
Lana made more than 90% profit on purchased priced : answer is E .
Here we know Lana made more than 90% of its purchases price and that could be 91 92...anything . So answer has to be 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.
ashkrs wrote:
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.
Re: DS: Lana's Lots [#permalink]
01 Aug 2007, 23:49
kevincan wrote:
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.