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Mr Tolstoy bought 100 CDs at $x and sold them at $y. Did Mr

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Mr Tolstoy bought 100 CDs at $x and sold them at $y. Did Mr [#permalink] New post 31 Oct 2010, 05:19
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63% (02:03) correct 37% (01:18) wrong based on 59 sessions
Mr Tolstoy bought 100 CDs at $x and sold them at $y. Did Mr Tolstoy profit from the deal?

(1) 40% of x > 30% of y
(2) 30% of x > 40% of y
[Reveal] Spoiler: OA
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Re: Profit of Mr Tolstoy [#permalink] New post 31 Oct 2010, 07:41
Stmt 1 : .4X > .3 Y => X > (0.3/0.4)Y => X > .75 Y.
We can not conclude whether X>Y from this.
Consider X=Y=100 => no profit
Again if X = 200 & Y = 100 then there is a profit and the condition is satisfied.

Statement 1 insufficient.

Stmt 2 : .3X > .4Y => X > 1.33 Y, This clearly shows X > Y and shows that there is a profit.

Statement 2 sufficient.

Answer B.
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Re: Profit of Mr Tolstoy [#permalink] New post 31 Oct 2010, 07:49
Expert's post
udaymathapati wrote:
Mr Tolstoy bought 100 CDs at $x and sold them at $y. Did Mr Tolstoy profit from the deal?
1. 40% of x > 30% of y
2. 30% of x > 40% of y

Request bunuel to explain with detail. I am finding it difficult to decipher the explaination given belw.

stmt1> we get, x>0.75. Thus, x=0.8y>0.75y, which case y>x and Mr Tolstoy made a profit or x=2y >0.75y, in which case, he did not make profit. Thus we can't conclude whether he made a profit or not.


Question asks is 100y>100x? or is y>x? or is \frac{y}{x}>1?

(1) 0.4x>0.3y --> \frac{y}{x}<\frac{4}{3}={1\frac{1}{3}}. So we can not be sure whether \frac{y}{x}>1. Not sufficient.

(2) 0.3x>0.4y --> \frac{y}{x}<\frac{3}{4}<1. So the answer to the question "is \frac{y}{x}>1" is NO. Sufficient.

Answer: B.

Hope it's clear.
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Re: Profit of Mr Tolstoy [#permalink] New post 05 Dec 2010, 07:20
Bunuel wrote:
udaymathapati wrote:
Mr Tolstoy bought 100 CDs at $x and sold them at $y. Did Mr Tolstoy profit from the deal?
1. 40% of x > 30% of y
2. 30% of x > 40% of y

Request bunuel to explain with detail. I am finding it difficult to decipher the explaination given belw.

stmt1> we get, x>0.75. Thus, x=0.8y>0.75y, which case y>x and Mr Tolstoy made a profit or x=2y >0.75y, in which case, he did not make profit. Thus we can't conclude whether he made a profit or not.


Question asks is 100y>100x? or is y>x? or is \frac{y}{x}>1?

(1) 0.4x>0.3y --> \frac{y}{x}<\frac{4}{3}. So we can not be sure whether \frac{y}{x}>1. Not sufficient.

(2) 0.3x>0.4y --> \frac{y}{x}<\frac{3}{4}<1. So the answer to the question "is \frac{y}{x}>1" is NO. Sufficient.

Answer: B.

Hope it's clear.


Can we plug in numbers ..I find that easy and less confusing ..If you can explain by plugging in numbers it will be helpful ...
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Re: Profit of Mr Tolstoy [#permalink] New post 06 Dec 2010, 02:46
rite2deepti wrote:
Bunuel wrote:
udaymathapati wrote:
Mr Tolstoy bought 100 CDs at $x and sold them at $y. Did Mr Tolstoy profit from the deal?
1. 40% of x > 30% of y
2. 30% of x > 40% of y

Request bunuel to explain with detail. I am finding it difficult to decipher the explaination given belw.

stmt1> we get, x>0.75. Thus, x=0.8y>0.75y, which case y>x and Mr Tolstoy made a profit or x=2y >0.75y, in which case, he did not make profit. Thus we can't conclude whether he made a profit or not.


Question asks is 100y>100x? or is y>x? or is \frac{y}{x}>1?

(1) 0.4x>0.3y --> \frac{y}{x}<\frac{4}{3}. So we can not be sure whether \frac{y}{x}>1. Not sufficient.

(2) 0.3x>0.4y --> \frac{y}{x}<\frac{3}{4}<1. So the answer to the question "is \frac{y}{x}>1" is NO. Sufficient.

Answer: B.

Hope it's clear.


Can we plug in numbers ..I find that easy and less confusing ..If you can explain by plugging in numbers it will be helpful ...


Deepti ,

I would like to suggest u in this regard,

GMAT testmakers never expect the testtakers to plug in the #s and find out the answer. They prepare the questions in such a way that finding the answer for them by using the logic would be much more easier and effective than by plugging-in the #s.

TRY TO FIND THE TESTMAKER'S (QUESTION MAKER'S) LOGIC BEHIND THE QUESTION. ---As Bunuel did. This comes with the practice.

Anybody can correct me if i am wrong.

To the original question:

Question asks is x>y (loss) or y>x (Profit)
stmnt1: 4x>3y ==> x/y > 3/4 (Note that x and y must be +ve #s as these are selling/buying prices, and hence can safely be corssmultiplied)
==> hence x/y may/may not be > 1 (i.e 4/4) NOT SUFF.

stmnt2: 3x>4y ==> x/y > 4/3 ==> x/y shud be > 1 (i.e. 3/3) ==> x SHUD be > y ==> he got a "loss"
SUFF.

ANSWER "B".

Regards,
Murali.
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Re: Profit of Mr Tolstoy [#permalink] New post 06 Dec 2010, 20:26
udaymathapati wrote:
Mr Tolstoy bought 100 CDs at $x and sold them at $y. Did Mr Tolstoy profit from the deal?
1. 40% of x > 30% of y
2. 30% of x > 40% of y

Request bunuel to explain with detail. I am finding it difficult to decipher the explaination given belw.

stmt1> we get, x>0.75. Thus, x=0.8y>0.75y, which case y>x and Mr Tolstoy made a profit or x=2y >0.75y, in which case, he did not make profit. Thus we can't conclude whether he made a profit or not.


Mr. T would make a profit if X<Y or \frac{X}{Y} < 1,
Mr. T would incur a loss if X>Y or \frac{X}{Y} > 1.

S1: 40% of x > 30% of y, so 4X > 3Y or \frac{X}{Y} > \frac{3}{4}, but is it greater than 1? we dont know. Not sufficient.
S2: 30% of x > 40% of y, so 3X > 4Y or \frac{X}{Y} > \frac{4}{3}, which is clearly greater than 1. So Mr. T incurred a loss. Sufficient

Answer: B
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Re: Profit of Mr Tolstoy   [#permalink] 06 Dec 2010, 20:26
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