Find all School-related info fast with the new School-Specific MBA Forum
Learn more about the recent changes... close

It is currently 19 Jun 2013, 01:18
Customize  |  Hide

Search
Register
New posts
Unanswered

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

  Question banks Downloads My Bookmarks Reviews  
  Oldest Best Reply
Search for:
 
Print view
First unread post
Author Message
TAGS:
Manager
Manager
User avatar
Joined: 06 Apr 2010
Posts: 145
Location: Pune
Schools: INSEAD, ISB, HKUST, HEC Paris, Warwick
WE 1: 2 yrs Credit Analyst
WE 2: 5 yrs Transition Manager
Followers: 3

Kudos [?]: 16 [0], given: 11

GMAT Tests User Reviews Badge
Mr Tolstoy bought 100 CDs at $x and sold them at $y. Did Mr [#permalink] New post 31 Oct 2010, 06:19
00:00

Question Stats:

74% (01:58) correct 25% (01:19) wrong based on 35 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
Manager
Manager
Joined: 09 Jun 2010
Posts: 116
Followers: 2

Kudos [?]: 30 [0], given: 1

Re: Profit of Mr Tolstoy [#permalink] New post 31 Oct 2010, 08:41
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.
GMAT Club team member
User avatar
Joined: 02 Sep 2009
Posts: 12101
Followers: 1877

Kudos [?]: 10108 [0], given: 960

GMAT Tests User CAT Tests
Top Member of the Month
Re: Profit of Mr Tolstoy [#permalink] New post 31 Oct 2010, 08:49
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.
_________________

PLEASE READ AND FOLLOW: 11 Rules for Posting!!!

RESOURCES: [GMAT MATH BOOK]; 1. Triangles; 2. Polygons; 3. Coordinate Geometry; 4. Factorials; 5. Circles; 6. Number Theory; 7. Remainders; 8. Overlapping Sets; 9. PDF of Math Book; 10. Remainders

COLLECTION OF QUESTIONS:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. NEW!!! ,11 Mixed Questions NEW!!!, 12 Fresh Meat NEW!!!

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS ; 9 Devil's Dozen!!!; 10 Number Properties set. NEW!!!, 11 New DS set. NEW!!!


What are GMAT Club Tests?
25 extra-hard Quant Tests

Find out what's new at GMAT Club - latest features and updates

Intern
Intern
Joined: 02 Sep 2010
Posts: 48
WE 1: Business Development Manger
WE 2: Assistant Manager-Carbon Trading
WE 3: Manager-Carbon Trading
Followers: 2

Kudos [?]: 3 [0], given: 16

GMAT Tests User
Re: Profit of Mr Tolstoy [#permalink] New post 05 Dec 2010, 08:20
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 ...
Manager
Manager
Joined: 30 Aug 2010
Posts: 94
Location: Bangalore, India
Followers: 3

Kudos [?]: 46 [0], given: 27

Re: Profit of Mr Tolstoy [#permalink] New post 06 Dec 2010, 03:46
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.
Kudos.
Manager
Manager
User avatar
Status: I rest, I rust.
Joined: 04 Oct 2010
Posts: 126
Schools: ISB - Co 2013
WE 1: IT Professional since 2006
Followers: 13

Kudos [?]: 84 [0], given: 8

GMAT Tests User
Re: Profit of Mr Tolstoy [#permalink] New post 06 Dec 2010, 21:26
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
_________________

Respect,
Vaibhav

PS: Correct me if I am wrong.

Re: Profit of Mr Tolstoy   [#permalink] 06 Dec 2010, 21:26
    Similar topics Author Replies Last post
Similar
Topics:
 New posts There is a group of six people; among them are Mr X and Mr stolyar 2 12 Jun 2004, 00:52
New posts mr.smith bought a house on which he obtained a mortgage for christoph 6 22 Feb 2005, 07:21
New posts Mr. T deposits $10K in a CD earning P percent annual GMATT73 2 27 Oct 2005, 09:02
New posts What fraction of his salary did Mr. Johnson put into savings CaspAreaGuy 9 09 Jan 2008, 11:25
New posts During a 1-cent sale Mr. brown bought a comb for the usual blog 2 03 Feb 2008, 00:24
Display posts from previous: Sort by

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

  Question banks Downloads My Bookmarks Reviews  
Print view
First unread post

Moderators: VeritasPrepKarishma, Bunuel, IanStewart

Search for:


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.

Main navigation

GMAT Resources

Partners

MBA Resources

www.gmac.com|www.mba.com