A certain amount of goods are purchased for 300 $. What is the percent

Question

A certain amount of goods are purchased for 300 $. What is the percentage profit earned ?

(1) One-third of the goods are sold for 20% loss
(2) Two-third of the goods are sold for 25% profit

This is a  Data Sufficiency Butler Question

Check the links to other Butler Projects: 
 
   Data Sufficiency Butler 
   Problem Solving Butler  
   Sentence Correction Butler  
   Reading Comprehension Butler  
   Integrated Reasoning Butler

tgsankar10 · Answer

Statement 1:  profit/loss is given only for 1/3 goods. Remaining 2/3 goods' profit/loss unknown

Statement 2:  profit/loss is given only for 2/3 goods. Remaining 1/3 goods' profit/loss unknown

Together:  profit/loss for all the goods available. Average of profit/loss % will give overall percentage profit earned

1/3 is 20% loss & 2/3 is 25% profit.

(-20+25+25)/3 = 10%

Answer  C  : TOGETHER are sufficient, but NEITHER ALONE is sufficient

Purnank · Answer

IMO C,
Given - A certain amount of goods are purchased for 300 $.
To find, What is the percentage profit earned lets check the given conditions.

1st - One-third of the goods are sold for 20% loss
lets assume the amount of goods as '3'.
Therefore cost per good = 300/3 = 100. that is the cost of 1/3rd of good which is sold for loss of 20% means at 80.
but we dont know about rest. So, Not sufficient.

2nd - Two-third of the goods are sold for 25% profit.
means 2 goods sold at 25% profit so their costs = 2*100* (1+ 1/4) = 250.
but we dont know about rest 1/3rd. So, Not sufficient.

But combining both we can get total selling amount of goods = 250 + 80 = 330.
and profit percentage = ((330-300) / 300) * 100 = 10%

Shwarma · Answer

Isn't it option E?

They didn't say the remaining 2/3rd right in option 2
so it could be the same 1/3 from option 1 
And another 1/3

so we have no idea of the other 1/3 from the lot..?

stne · Answer

Yes I think you are correct!  Unless I have missed something , it should have been mentioned that all goods are priced equally.
 
Here is the proof.

(1) One-third of the goods are sold for 20% loss

We have no idea about the other 2/3 .

INSUFF.

(2) Two-third of the goods are sold for 25% profit

We have no idea about the other 1/3.

INSUFF.

1+2

Let there be 3 goods.

Let the prices be 50, 60 and 190 for the goods.

if 50 is sold for 20% loss and 60 and 190 are sold for 25% profit then, overall profit is 312.5 
If 190 is sold for 20% loss and 50 and 60 are sold for 25% profit then, we will actually have a loss of 10.5

Think of it, if the product that was sold at a loss had more value than the other products that were sold at a profit , then the loss would obviously offset the profit.

INSUFF.

Hence in the current form ans should be E

@KarishmaB  can you please confirm. Thank you.

KarishmaB · Answer

The intent in the question was to say that all goods are identically priced (because they say 'a certain amount of goods' so something like a 100 pencils though it should be 'a certain number of').
But given the question as it is, I would worry that they haven't specifically mentioned that goods are identical or perhaps just saying 'some apples' would have been enough to show that they are identical. 
I would mark it as (E) too.

A certain amount of goods are purchased for 300 $. What is the percent

Prep Toolkit

Top 5 GMAT Debrief Videos

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards

GMAT Data Sufficiency (DS) Questions

A certain amount of goods are purchased for 300 $. What is the percent

Prep Toolkit

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards