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Warehouse W's revenue from the sale of sofas was what percen

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Warehouse W's revenue from the sale of sofas was what percen [#permalink] New post 08 Oct 2007, 16:51
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Warehouse W's revenue from the sale of sofas was what percent greater this year than it was last year?

(1) Warehouse W sold 10% more sofas this year than it did last year
(2) Warehouse W's selling price per sofa was $30 greater this year than it was last year
[Reveal] Spoiler: OA

Last edited by Bunuel on 11 Mar 2014, 00:30, edited 1 time in total.
Renamed the topic, edited the question and added the OA.
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Re: DS %s [#permalink] New post 08 Oct 2007, 19:50
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young_gun wrote:
warehouse W's revenue from the sale of sofas was what percent greater this year than it was last year?

st1-warehouse w sold 10 percent more sofas this year than it did last year.
st2-warehouse w's selling price per sofa was $30 greater this year than it was last year.


Another for E,

to answer the question we need to know either percent change in BOTH price and quantity (revenue=price x quantity) or exact values of prices and quantities.
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Re: DS %s [#permalink] New post 08 Oct 2007, 21:46
young_gun wrote:
warehouse W's revenue from the sale of sofas was what percent greater this year than it was last year?

st1-warehouse w sold 10 percent more sofas this year than it did last year.
st2-warehouse w's selling price per sofa was $30 greater this year than it was last year.


This can quickly be deduced to either C or E.

Now lets say S=# of sofas and P= price

So R should equal S(P)

For this year the equation R=1.10S(P+33)

From this we don't really get any info.

So I say E.
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Warehouse W's revenue from the sale of sofas was what percen [#permalink] New post 25 Feb 2008, 08:08
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Warehouse W's revenue from the sale of sofas was what percent greater this year than it was last year?

(1) Warehouse W sold 10% more sofas this year than it did last year
(2) Warehouse W's selling price per sofa was $30 greater this year than it was last year
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Re: DS sofa sales [#permalink] New post 25 Feb 2008, 10:04
im getting E. Here's what I did:

we are looking for (a-b)/b, where a is revenue this year and b is revenue from last year.

from stat 1, we only know the increase in sales volume, but nothing about the price. We need price for revenue calculation, and so this is insuff.

from stat 2, we know that new price=old price + 30, but nothing about how many were sold in each year. Insuff.

Together, we know that a=(x+30)(1.1m) where m=couches sold last year, x=price last year and b=(x)(m). We end up with:

(x+30)(1.1m)-(x)(m) / (x)(m) --> 0.1 + (33/x) .... we still have one variable left over, so we cant solve.
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Re: DS sofa sales [#permalink] New post 25 Feb 2008, 11:55
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pmenon wrote:
im getting E. Here's what I did:

we are looking for (a-b)/b, where a is revenue this year and b is revenue from last year.

from stat 1, we only know the increase in sales volume, but nothing about the price. We need price for revenue calculation, and so this is insuff.

from stat 2, we know that new price=old price + 30, but nothing about how many were sold in each year. Insuff.

Together, we know that a=(x+30)(1.1m) where m=couches sold last year, x=price last year and b=(x)(m). We end up with:

(x+30)(1.1m)-(x)(m) / (x)(m) --> 0.1 + (33/x) .... we still have one variable left over, so we cant solve.


That is the OA, nice job.

Had we been provided with the % price increase rather than $ amount, would C be the answer or still E?
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Re: DS sofa sales [#permalink] New post 25 Feb 2008, 12:31
It doesn't say the price per sofa. What if there were diff sofas each of different prices? That's the way I thought of it.
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Re: DS sofa sales [#permalink] New post 25 Feb 2008, 18:23
sonibubu wrote:
Warehouse W's revenue from the sale of sofas was what percent greater this year than it was last year?

1) Warehouse W sold 10% more sofas this year than it did last year
2) Warehouse W's selling price per sofa was $30 greater this year than it was last year



Def E.

1: (1.1x-x)/(x) Insuff we dont know what the REVENUE was.
2: insuff nothing about the amount of sofas.

Together best we can get is (1.1(x+30) - (x))/x
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Re: Warehouse W's revenue from the sale of sofas was what [#permalink] New post 05 Mar 2013, 12:55
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Hello,

Let me try helping you.

Warehouse W's revenue from the sale of sofas was what percent greater this year than it was last year?

1) Warehouse W sold 10% more sofas this year than it did last year
2) Warehouse W's selling price per sofa was $30 greater this year than it was last year

We need to find the percentage increase in the revenue of Warehouse X. This would normally be calculated as (X-Y)/X where would be the revenue this year and y would be the revenue last year.
Remember, Total revenue= Number of sofas sold * cost of sofas

Let us analyze the options now
1) This tells is about the percentage increase in sale of sofas. However, even though we know about the percentage increase in the number of sofas sold, we do not know anything about the selling price of these sofas in either years and hence, information is insufficient.

Statement 2) also gives us information about the difference in selling price per sofa in both years. However, we do not know the number of sofas sold. INSUFFICIENT.

Together,
we know that the price of the sofa increase by $30 this year. We also know something about the percentage increase in the number of sofas sold.
Let us consider the number of sofas sold to be x last year. The number of sofas sold this year would be 1.1x. Now, let us consider the price of sofa last year to be y. The current price of the sofa would be y+30.
Percentage change would involve two different variables as shown below

(1.1x(y+30)-xy)/xy
All terms might cancel out but we will be left with a 30/y and since, we do not know the value of these variable, it would not be possible to calculate the percentage change. INSUFFICIENT
Answer is E.
Method 2)

Another way to solve this problem is to imagine, the increase in price.
Statement 1) would turn out to be insufficient because of the reason statement above.
Statement 2) gives us the increase in the price of the sofa. However, the 30 increase might be a huge increase if the beginning price of the sofa was $40. However, if the beginning price of the sofa was $300, then the percentage change would be very small.

Together, by reasoning similar to 2), the percentage change in the revenue might be very big or very small depending on the last year price of sofas. Hence, INSUFFICIENT.

This question could have been solved if the statements had given us either percentages in both statements or exact values in both statements.

Hope this helps! Let me know if I can help you any further.

fozzzy wrote:
How do you solve this question?

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Re: Warehouse W's revenue from the sale of sofas was what percen [#permalink] New post 06 Mar 2013, 02:11
so if they provided a similar relation of cost as they did in statement 1 it would have been sufficient?

1) Warehouse W sold 10% more sofas this year than it did last year
2 ) The price this year is 30 percent higher than last year
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Re: Warehouse W's revenue from the sale of sofas was what percen [#permalink] New post 06 Mar 2013, 10:21
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Yes, in such a case the statements together would have been sufficient.
Let us try analyzing the situation you mentioned.

statement 1) is still insufficient since we do now know anything about the total revenue. Foe example, the change in selling price of the sofas could be 100% or even as small as 10%. Depending on the percentage increase in selling price, the percentage change in revenue would have to be calculated.
Statement 2) is still insufficient since all we know about is the percentage change in selling price. However, we still do not know much about the percentage increase in the number of sofas sold. For example, if the number of sofas sold increased by 80%, the percentage change would be very high. On the other hand, if it was as low as 10%, the percentage change could be lower.
However, note that we need to find a particular value of percentage change in the revenue. This percentage change cannot be found using either data alone.

Taking the statements together, we know the exact percentage change in the number of sofas(x and 1.1x) sold and the percentage increase in selling price(y and 1.3y). Hence, the percentage increase can be calculated and would be of the form
(1.1x*1.30y-xy)/xy
We can calculate a specific value for this and hence these statements are sufficient together.

Hope this helps! Let me know if I can help you any further.
fozzzy wrote:
so if they provided a similar relation of cost as they did in statement 1 it would have been sufficient?

1) Warehouse W sold 10% more sofas this year than it did last year
2 ) The price this year is 30 percent higher than last year

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Re: Warehose W's revenue from the sale of sofas was what percent [#permalink] New post 04 Aug 2013, 10:06
Stiv wrote:
Warehose W's revenue from the sale of sofas was what percent greater this year than it was last year?

1) Warehouse W sold 10 percent more sofas this year than it did last year.
2) Warehouse W's selling price per sofa was $30 greater this year than it was last year.


for determining revenue we need selling price of each sofa and number of sofa sold of each year.

1) Warehouse W sold 10 percent more sofas this year than it did last year.
we dont know the selling price nor the number of sofas===>hence insufficient.

2) Warehouse W's selling price per sofa was $30 greater this year than it was last year
again we dont know the exact selling price nor the number of sofas hence insufficient.

combining both again we lack same.

hence E
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Re: Warehose W's revenue from the sale of sofas was what percent [#permalink] New post 04 Aug 2013, 10:22
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Stiv wrote:
Warehose W's revenue from the sale of sofas was what percent greater this year than it was last year?

1) Warehouse W sold 10 percent more sofas this year than it did last year.
2) Warehouse W's selling price per sofa was $30 greater this year than it was last year.


Let the no of sofas sold last year be = N
Price during last year = P
Total Revenue (Last year) = NP

Statement 1
no of sofas sold (current year) = 1.1N
We don't know the price of sofa this year
Thus Insufficient

Statement 2
Price during current year = P + 30
We don't know the no of sofa's sold this year.
Thus Insufficient

Statement 1& 2
Total Revenue (Current year) = 1.1N(P+30)

Percent change = (1.1NP +33-NP)/NP
=(0.1NP + 33)/NP
Still we don't have the value of NP.
Thus Insufficient
Answer E
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Re: Warehouse W's revenue from the sale of sofas was what percen [#permalink] New post 12 Oct 2013, 11:10
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sonibubu wrote:
Warehouse W's revenue from the sale of sofas was what percent greater this year than it was last year?

(1) Warehouse W sold 10% more sofas this year than it did last year
(2) Warehouse W's selling price per sofa was $30 greater this year than it was last year


For this questions regarding percent change in revenue we always need the two ratios from price and quantity between both years, one and an absolute difference 30$ doesn't help. Keep this in mind and reduce your average time for this type of questions.

Cheers
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Re: warehouse W's revenue from the sale of sofas was what [#permalink] New post 11 Mar 2014, 00:24
Hi all,
my answer to this DS question is A.

reading from statement one alone,
My view is that we can safely assume that there is no change in the selling price per sofa. (not as long it is not stated).

so :
Rthisyear = 1.1*Nsofaslastyear*P
Rlastyear = Nsofaslastyear*P
R growth 10% greater.

But i do have doubts when moving on to statement#2 that gives info of price changes.

what do you guys think?
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Re: warehouse W's revenue from the sale of sofas was what [#permalink] New post 11 Mar 2014, 00:42
Expert's post
Merging similar topics.

sayno wrote:
Hi all,
my answer to this DS question is A.

reading from statement one alone,
My view is that we can safely assume that there is no change in the selling price per sofa. (not as long it is not stated).

so :
Rthisyear = 1.1*Nsofaslastyear*P
Rlastyear = Nsofaslastyear*P
R growth 10% greater.

But i do have doubts when moving on to statement#2 that gives info of price changes.

what do you guys think?


No, we cannot assume that there was no price change. The OA for this question is E. Please refer to the discussion above.
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Re: Warehouse W's revenue from the sale of sofas was what percen [#permalink] New post 11 Mar 2014, 08:42
young_gun wrote:
Warehouse W's revenue from the sale of sofas was what percent greater this year than it was last year?

(1) Warehouse W sold 10% more sofas this year than it did last year
(2) Warehouse W's selling price per sofa was $30 greater this year than it was last year



1) and 2) alone are definitely insufficient

when we combine them: let the units sold last year be x, so this year 1.1x units must have been sold.
let the price per unit last year be y, so this years price would be (y+30)
=> last year's sale= xy.
this year's sale = 1.1xy + 33x
% change = (0.1y + 33)/y %
we don't have any info about y, hence insufficient.

so, E.
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Re: Warehouse W's revenue from the sale of sofas was what percen   [#permalink] 11 Mar 2014, 08:42
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