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

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

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New post 23 Oct 2018, 23:41
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Difficulty:

  45% (medium)

Question Stats:

70% (01:44) correct 30% (02:02) wrong based on 30 sessions

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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

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

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New post 23 Oct 2018, 23:49
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
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Concentration: Accounting, Finance
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Re: A dealer sold good for $X. If Y percent was deducted for taxes and the  [#permalink]

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New post 24 Oct 2018, 04:53
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.
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Re: A dealer sold good for $X. If Y percent was deducted for taxes and the &nbs [#permalink] 24 Oct 2018, 04:53
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A dealer sold good for $X. If Y percent was deducted for taxes and the

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