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# 1000 dollars were converted into pounds and then the pounds

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Director
Joined: 09 Aug 2006
Posts: 755
1000 dollars were converted into pounds and then the pounds [#permalink]

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22 Oct 2007, 23:00
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1000 dollars were converted into pounds and then the pounds were converted back into dollars at the same exchange rate of x pounds per dollar. If a commission of y% is levied on any exchange operation, what dollar amount was left after the exchanges?

1) x = .6
2) y = 5

GMAT Club Legend
Joined: 07 Jul 2004
Posts: 5043
Location: Singapore

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23 Oct 2007, 01:36
St1:
If y = 10%, then 900 dollars will be converted to 540 pounds and 486 pounds will be converted back to 810 dollars

If y = 20%, then 800 dollars will be converted to 480 pounds and 384 pounds will be converted back to 640 dollars.

Different y can yield different results. Insufficient.

St2:
If x = 10 pounds per dollar, then 950 dollars will be converted to 9500 pounds, and 9025 pounds will be converted back to 902.5 dollars.

If x = 5 pounds per dollar, then 950 dollars will be converted to 4750 pounds and 4512.5 pounds will be converted back to 902.5 dollars.

So it doesn't matter what x is. As long as we know y, it will work. Sufficient.

Ans B
GMAT Club Legend
Joined: 07 Jul 2004
Posts: 5043
Location: Singapore

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23 Oct 2007, 01:37
I think for this DS, don't bother with algebra. Statement2 will result in a too complicated algebraic statement.
CEO
Joined: 21 Jan 2007
Posts: 2739
Location: New York City

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15 Nov 2007, 03:11
ywilfred wrote:
St1:
If y = 10%, then 900 dollars will be converted to 540 pounds and 486 pounds will be converted back to 810 dollars

If y = 20%, then 800 dollars will be converted to 480 pounds and 384 pounds will be converted back to 640 dollars.

Different y can yield different results. Insufficient.

St2:
If x = 10 pounds per dollar, then 950 dollars will be converted to 9500 pounds, and 9025 pounds will be converted back to 902.5 dollars.

If x = 5 pounds per dollar, then 950 dollars will be converted to 4750 pounds and 4512.5 pounds will be converted back to 902.5 dollars.

So it doesn't matter what x is. As long as we know y, it will work. Sufficient.

Ans B

i can see it with hard numbers but can u explain the underlying logic of why only Y is needed?
15 Nov 2007, 03:11
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