Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized for You

we will pick new questions that match your level based on your Timer History

Track Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

It appears that you are browsing the GMAT Club forum unregistered!

Signing up is free, quick, and confidential.
Join other 500,000 members and get the full benefits of GMAT Club

Registration gives you:

Tests

Take 11 tests and quizzes from GMAT Club and leading GMAT prep companies such as Manhattan GMAT,
Knewton, and others. All are free for GMAT Club members.

Applicant Stats

View detailed applicant stats such as GPA, GMAT score, work experience, location, application
status, and more

Books/Downloads

Download thousands of study notes,
question collections, GMAT Club’s
Grammar and Math books.
All are free!

Thank you for using the timer!
We noticed you are actually not timing your practice. Click the START button first next time you use the timer.
There are many benefits to timing your practice, including:

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

Show Tags

06 Aug 2008, 11:12

00:00

A

B

C

D

E

Difficulty:

15% (low)

Question Stats:

69% (01:46) correct
31% (01:02) wrong based on 273 sessions

HideShow timer Statistics

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?

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

Show Tags

06 Aug 2008, 11:21

chan4312 wrote:

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. 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.

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

Show Tags

06 Aug 2008, 11:28

1

This post received KUDOS

chan4312 wrote:

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.

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
_________________

Your attitude determines your altitude Smiling wins more friends than frowning

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

Show Tags

06 Aug 2008, 11:38

x2suresh wrote:

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

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

Show Tags

06 Aug 2008, 16:20

chan4312 wrote:

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.

Clearly B

Here the cost price =x selling price=y gross profit =y-x gross profit % = (y-x) /x = (y/x)-1 ------->eqn I

Now (1) is INSUFFI since we y-x=20 but no clue about x (2) is SUFFI we know y/x=5/4

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

Show Tags

26 Oct 2010, 22:38

monirjewel wrote:

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?

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

Show Tags

20 Oct 2011, 11:58

ankitranjan wrote:

monirjewel wrote:

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

Question requires {(y-x)/x}*100

or {(y/x)-1}*100

we can get this from (2),

Hence answer is B.

This is my working too. From Rephrasing the original question, it boils down to (Y/X - 1)*100.

So all we really need is Y/X which is provided in B and hence is the answer.

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

Show Tags

27 Oct 2016, 19:52

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).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
_________________

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?

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.

Its been long time coming. I have always been passionate about poetry. It’s my way of expressing my feelings and emotions. And i feel a person can convey...

Written by Scottish historian Niall Ferguson , the book is subtitled “A Financial History of the World”. There is also a long documentary of the same name that the...

Post-MBA I became very intrigued by how senior leaders navigated their career progression. It was also at this time that I realized I learned nothing about this during my...