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What was the price at which a merchant sold a certain

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What was the price at which a merchant sold a certain [#permalink] New post 20 Aug 2011, 05:00
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What was the price at which a merchant sold a certain appliance?

(1) The merchant's gross profit on the appliance was 20% of the price at which the merchant sold the appliance.
(2) The price at which the merchant sold the appliance was $50 more than the merchant's cost of the appliance.

I chose E.
[Reveal] Spoiler: OA
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Re: What was the price at which a merchant sold a certain [#permalink] New post 02 Jan 2012, 06:37
Jasontuyj2012 wrote:
What was the price at which a merchant sold a certain appliance?

(1) The merchant's gross profit on the appliance was 20% of the price at which the merchant sold the appliance.
(2) The price at which the merchant sold the appliance was $50 more than the merchant's cost of the appliance.

I chose E.


P = s-c
1) p = 0.20s Insufficient
2) p = 50 Insufficient

For Both: 0.20s =50
Ans. C
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Re: What was the price at which a merchant sold a certain [#permalink] New post 02 Jan 2012, 08:21
It's C.

(1) The merchant's gross profit on the appliance was 20% of the price at which the merchant sold the appliance.

Let p = profit
Let x = original cost of the appliance to the merchant

p = x + .2x

This alone won't give us the original price. #1 is insufficient.


(2) The price at which the merchant sold the appliance was $50 more than the merchant's cost of the appliance.

Using the original variables...

p = x + 50

This alone won't do it. #2 is insufficient. However, comparing the two equations:

.2x = 50
x = 250
250 + 50 = 300

Answer: C.
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Re: What was the price at which a merchant sold a certain [#permalink] New post 07 Jan 2012, 16:14
GP = Sale - cost
Sale = GP + cost

1. GP = 0.2 Sale -> GP/0.2 = GP + cost .....(1) Insuff by itself
2. Sale = 50 + cost -> 50 + cost = GP + cost ... (2) Insuff by itself.

Solving both equations gives us GP and cost. Suff. C.
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Re: What was the price at which a merchant sold a certain [#permalink] New post 18 Jan 2012, 12:41
What was the price at which a merchant sold a certain appliance?

(1) The merchant's gross profit on the appliance was 20% of the price at which the merchant sold the appliance.
p = .2 s = s - c
c = .8s

(2) The price at which the merchant sold the appliance was $50 more than the merchant's cost of the appliance.
s=c+50

1 + 2
s = .8s + 50
.2s = 50
s = 250

C = .8s = 250 * .8 = 200

Hence C.
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Re: What was the price at which a merchant sold a certain [#permalink] New post 20 Jan 2012, 05:58
"C"

Each statement does not provide enough information to be sufficient. However, if we know that Delta20% = 50$ it is possible to get to the price --> Sufficient, Answer C
Re: What was the price at which a merchant sold a certain   [#permalink] 20 Jan 2012, 05:58
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