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# A clothing store acquired an item at a cost of x dollars and

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Math Expert
Joined: 02 Sep 2009
Posts: 41891

Kudos [?]: 128910 [0], given: 12183

A clothing store acquired an item at a cost of x dollars and [#permalink]

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01 Oct 2012, 05:14
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17
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Difficulty:

25% (medium)

Question Stats:

68% (01:04) correct 32% (01:14) wrong based on 1269 sessions

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A clothing store acquired an item at a cost of x dollars and sold the item for y dollars. The store's gross profit from the item was what percent of its cost for the item?

(1) y - x = 20
(2) y/x = 5/4

Practice Questions
Question: 51
Page: 279
Difficulty: 600
[Reveal] Spoiler: OA

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Kudos [?]: 128910 [0], given: 12183

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Kudos [?]: 128910 [1], given: 12183

Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

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01 Oct 2012, 05:15
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SOLUTION

A clothing store acquired an item at a cost of x dollars and sold the item for y dollars. The store's gross profit from the item was what percent of its cost for the item?

We need to find the value of $$\frac{y-x}{x}*100=(\frac{y}{x}-\frac{x}{x})*100=(\frac{y}{x}-1)*100$$. So, basically we need to find the value of $$\frac{y}{x}$$.

(1) y - x = 20. We cannot get the desired ratio from this statement. Not sufficient.
(2) y/x = 5/4. Directly gives us the value of $$\frac{y}{x}$$. Sufficient.

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Kudos [?]: 128910 [1], given: 12183

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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

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01 Oct 2012, 07:55
1
KUDOS
tricky one. I picked D but is wrong. Answer should be B

here: $$P = Revenues - Costs$$. for instance I have $$R = 30$$ $$C = 10$$ so $$y - x = 20$$. In my example I know x and y but from 1) we do not have them sio INSUFF

2) $$y = 5$$ $$x = 4$$-----> $$R = 5$$ and $$C = 4$$ so $$C = 100$$ and$$R = 125$$. We have 25 % that is what we are looking for SUFF

B shoould be the answer
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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

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01 Oct 2012, 10:52
1
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Bunuel wrote:
The Official Guide for GMAT® Review, 13th Edition - Quantitative Questions Project

A clothing store acquired an item at a cost of x dollars and sold the item for y dollars. The store's gross profit from the item was what percent of its cost for the item?

(1) y - x = 20
(2) y/x = 5/4

Practice Questions
Question: 51
Page: 279
Difficulty: 600

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The gross profit is $$y-x.$$ The question asks for the ratio $$\frac{y-x}{x}.$$

(1) No information about $$x.$$
Not sufficient.

(2) Since $$\frac{y-x}{x}=\frac{y}{x}-\frac{x}{x}=\frac{y}{x}-1$$, sufficient.

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Kudos [?]: 1058 [1], given: 43

Math Expert
Joined: 02 Sep 2009
Posts: 41891

Kudos [?]: 128910 [1], given: 12183

Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

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04 Oct 2012, 14:26
1
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Expert's post
SOLUTION

A clothing store acquired an item at a cost of x dollars and sold the item for y dollars. The store's gross profit from the item was what percent of its cost for the item?

We need to find the value of $$\frac{y-x}{x}*100=(\frac{y}{x}-\frac{x}{x})*100=(\frac{y}{x}-1)*100$$. So, basically we need to find the value of $$\frac{y}{x}$$.

(1) y - x = 20. We cannot get the desired ratio from this statement. Not sufficient.
(2) y/x = 5/4. Directly gives us the value of $$\frac{y}{x}$$. Sufficient.

Kudos points given to everyone with correct solution. Let me know if I missed someone.
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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

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01 Oct 2012, 20:15
(Again Same explanation as of Eva's)
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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

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04 Oct 2012, 14:36
Bunuel

Your method to rephrase a stem is simply unbelievable. Of course the most important thing during the exam is to have the right solution under time constrain, no matter what......but wow
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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

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02 Aug 2014, 14:27
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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

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20 Aug 2015, 22:01
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Re: A clothing store acquired an item at a cost of x dollars and [#permalink]

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20 Sep 2016, 09:15
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: A clothing store acquired an item at a cost of x dollars and   [#permalink] 20 Sep 2016, 09:15
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# A clothing store acquired an item at a cost of x dollars and

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