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09 Apr 2025, 00:30
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E
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
35%
(medium)
Question Stats:
73% (02:00) correct
27%
(01:54)
wrong
based on 126
sessions
History
Date
Time
Result
Not Attempted Yet
A car dealer purchased a new car from the manufacturer for a percent more than the production cost, and then sold the car for b percent more than the price at which he purchased it. What was the production cost of the car?
(1) b = 5
(2) The difference between the price at which the car dealer bought the car and the price at which he sold the car was $2500.
(1) b = 5
(2) The difference between the price at which the car dealer bought the car and the price at which he sold the car was $2500.
09 Apr 2025, 01:03
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Let production cost be P
CP = P(1+a/100)
SP = CP (1+b/100)
P=?
Statement 1
b= 5
We dont know SP, CP or a to find P
Insufficient
Statement 2
CP (1+b/100) - P(1+a/100) = 2500
Insufficient, we don't know any other variables
Combined, we have 5% of CP = 2500
But we still need a to calculate P, using CP = P(1+a/100)
Insufficient
Answer E
CP = P(1+a/100)
SP = CP (1+b/100)
P=?
Statement 1
b= 5
We dont know SP, CP or a to find P
Insufficient
Statement 2
CP (1+b/100) - P(1+a/100) = 2500
Insufficient, we don't know any other variables
Combined, we have 5% of CP = 2500
But we still need a to calculate P, using CP = P(1+a/100)
Insufficient
Answer E
Bunuel
09 Apr 2025, 03:04
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Production Cost = C
Purschase Price = P = (1+ a/100)*C
Selling price = S = (1+b/100)*P
What is the value of C? C = P/ (1+ a/100) = S / { ( (1+ a/100)* (1+b/100)} We need to know Either a,P or S,a,b
1. b= 5.
Too many unknowns.
Insufficient.
2. S - P = 2500 . => P * (b/100) = 2500 Still Insufficient
Together, From 2 and b=5 from 1 we can deduce value of P, and S. Still a is unknown and required to calculate C. Insuffucient.
E is the answer
Purschase Price = P = (1+ a/100)*C
Selling price = S = (1+b/100)*P
What is the value of C? C = P/ (1+ a/100) = S / { ( (1+ a/100)* (1+b/100)} We need to know Either a,P or S,a,b
1. b= 5.
Too many unknowns.
Insufficient.
2. S - P = 2500 . => P * (b/100) = 2500 Still Insufficient
Together, From 2 and b=5 from 1 we can deduce value of P, and S. Still a is unknown and required to calculate C. Insuffucient.
E is the answer
Bunuel
09 Apr 2025, 03:42
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Question:
A car dealer purchased a new car from the manufacturer for a percent more than the production cost, and then sold the car for b percent more than the price at which he purchased it. What was the production cost of the car?
(1) b = 5
(2) The difference between the price at which the car dealer bought the car and the price at which he sold the car was $2500.
Let’s assume:
Let the production cost = x
Dealer's purchase price = x + (a/100)x = x(1 + a/100)
Selling price = [x(1 + a/100)] * (1 + b/100)
We are asked to find x, the production cost.
Statement (1):
Statement (1) tells us b = 5
So selling price = purchase price * 1.05
But we still don't know a or any monetary values, so we can't find x
Statement (1) alone is not sufficient
Statement (2):
We're told the dealer made a $2500 profit, i.e.,
Selling price - Purchase price = 2500
So:
x(1 + a/100)(1 + b/100) - x(1 + a/100) = 2500
Factor x(1 + a/100):
x(1 + a/100)[(1 + b/100) - 1] = 2500
x(1 + a/100)(b/100) = 2500
Still two unknowns: x and b
We cannot solve for x without knowing b
Statement (2) alone is not sufficient
Combining (1) and (2):
From (1): b = 5
Plug into the equation from (2):
x(1 + a/100)(5/100) = 2500
Now we still have a and x as unknowns. Without knowing a, we cannot solve for x
Even together, we have one equation and two unknowns
Not sufficient
Answer: (E) – Statements (1) and (2) together are not sufficient
A car dealer purchased a new car from the manufacturer for a percent more than the production cost, and then sold the car for b percent more than the price at which he purchased it. What was the production cost of the car?
(1) b = 5
(2) The difference between the price at which the car dealer bought the car and the price at which he sold the car was $2500.
Let’s assume:
Let the production cost = x
Dealer's purchase price = x + (a/100)x = x(1 + a/100)
Selling price = [x(1 + a/100)] * (1 + b/100)
We are asked to find x, the production cost.
Statement (1):
Statement (1) tells us b = 5
So selling price = purchase price * 1.05
But we still don't know a or any monetary values, so we can't find x
Statement (1) alone is not sufficient
Statement (2):
We're told the dealer made a $2500 profit, i.e.,
Selling price - Purchase price = 2500
So:
x(1 + a/100)(1 + b/100) - x(1 + a/100) = 2500
Factor x(1 + a/100):
x(1 + a/100)[(1 + b/100) - 1] = 2500
x(1 + a/100)(b/100) = 2500
Still two unknowns: x and b
We cannot solve for x without knowing b
Statement (2) alone is not sufficient
Combining (1) and (2):
From (1): b = 5
Plug into the equation from (2):
x(1 + a/100)(5/100) = 2500
Now we still have a and x as unknowns. Without knowing a, we cannot solve for x
Even together, we have one equation and two unknowns
Not sufficient
Answer: (E) – Statements (1) and (2) together are not sufficient
Bunuel
