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What is the cost of an article? 1. The article is sold for

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What is the cost of an article? 1. The article is sold for [#permalink] New post 02 Dec 2003, 21:32
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What is the cost of an article?

1. The article is sold for Rs. 24.
2. The percentage lost is as much as the cost price of the article.
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 [#permalink] New post 03 Dec 2003, 03:36
think it should be C. A) tells us that the article is sold for 24 Rs. so that is the selling price, which is not sufficient
B) is not sufficient by itself,but from both, the percentage lost is as much as the cost or 24/X=X/100 so we can find the cost of the article( X=cost of article)
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 [#permalink] New post 03 Dec 2003, 06:54
I vote for C.

(1) It's the selling price. Don't know anything about cost. Not suff.
(2) Does say anything about what the cost and loss add up to or any fraction showing the relation.
(combined):
x = cost of article
x(x/100) = percentage loss

Selling Price = Cost - Loss
24 = x - x(x/100)
24 = x - x┬▓/100
x┬▓ - 100x + 2400 = 0

We get the value of x (cost of article) from this equation. So sufficient.
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 [#permalink] New post 03 Dec 2003, 10:09
Even I get C. But the official answer is E. This question is from gmatplus
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 [#permalink] New post 04 Dec 2003, 07:06
preyshi wrote:
Even I get C. But the official answer is E. This question is from gmatplus

What's the section and the problem number?
  [#permalink] 04 Dec 2003, 07:06
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