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06 Aug 2008, 12:12
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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
OPEN DISCUSSION OF THIS QUESTION IS HERE: a-clothing-store-acquired-an-item-at-a-cost-of-x-dollars-and-139872.html
(1) y – x = 20
(2) y / x = 5 / 4
Official Guide 12 Question
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Question: 52 |
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Video Explanations:
OPEN DISCUSSION OF THIS QUESTION IS HERE: a-clothing-store-acquired-an-item-at-a-cost-of-x-dollars-and-139872.html
06 Aug 2008, 12:21
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chan4312
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
A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.
Answer is C.(1) y – x = 20
2) y / x = 5 / 4
A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.
Stat-1 tells about the profit but does not tell about the original cost. Using 1 and 2 both you get both the value of x and the $20 profit on it.
Hope I am right.
06 Aug 2008, 12:28
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chan4312
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
A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.
(1) y – x = 20
2) y / x = 5 / 4
A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.
gross profit = n (y-x)
% = n(y-x)/nx = (y-x) / x
(1) y – x = 20
(y-x) / x = 20/x*100
not suffcieint.. we don't the x
2) suffciient.
(y-x) / x = y/x-1 % = 5/4-1*100
B
sorry....PR told me not to use too much algebra...I guess they were wrong 
