GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 18 Oct 2019, 04:17

Close

GMAT Club Daily Prep

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.

Close

Request Expert Reply

Confirm Cancel

A dealer sold good for $X. If Y percent was deducted for taxes and the

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Find Similar Topics 
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 58458
A dealer sold good for $X. If Y percent was deducted for taxes and the  [#permalink]

Show Tags

New post 24 Oct 2018, 00:41
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

76% (01:34) correct 24% (01:23) wrong based on 62 sessions

HideShow timer Statistics

Senior Manager
Senior Manager
User avatar
P
Joined: 15 Feb 2018
Posts: 366
Premium Member
A dealer sold good for $X. If Y percent was deducted for taxes and the  [#permalink]

Show Tags

New post 24 Oct 2018, 00:49
Original Condition
Revenue-Expense=Profit
X-\(\frac{Y}{100}\)X-Z=Profit

X-\(\frac{YX}{100}\)-Z=Profit

Need to find X, Y, Z, X-Z, X-XY, XY/100 etc

1) Insufficient, don't know Y or anything containing Y

2) Don't know Z or anything containing Z

Together
400-\(\frac{1100}{100}\)=389

C
VP
VP
User avatar
D
Joined: 31 Oct 2013
Posts: 1464
Concentration: Accounting, Finance
GPA: 3.68
WE: Analyst (Accounting)
CAT Tests
Re: A dealer sold good for $X. If Y percent was deducted for taxes and the  [#permalink]

Show Tags

New post 24 Oct 2018, 05:53
1
Bunuel wrote:
A dealer sold good for $X. If Y percent was deducted for taxes and then $Z dollars was deducted for the cost of good, what was dealer’s gross profit after the deductions?

(1) X − Z = 400
(2) XY = 1100


Gross profit : x - y% - z.

Statement 1: No information about y%. Not sufficient.

Statement 2; No information about z. NOT sufficient.

Combining :

x - z = 400 . if we deduct y from 400 we we will get gross profit. Statement 2 gives the value of y%.

xy = 1100

x * y/100 = 1100 /100

xY% = 11.

x - z = 400

x - z - y% = 400 - 11 = 389.

The best answer is C.
GMAT Club Bot
Re: A dealer sold good for $X. If Y percent was deducted for taxes and the   [#permalink] 24 Oct 2018, 05:53
Display posts from previous: Sort by

A dealer sold good for $X. If Y percent was deducted for taxes and the

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  





Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne