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17 Sep 2025, 01:14
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C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
25%
(medium)
Question Stats:
78% (01:29) correct
22%
(01:52)
wrong
based on 120
sessions
History
Date
Time
Result
Not Attempted Yet
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
(1) X − Z = 400
(2) XY = 1100
17 Sep 2025, 08:25
Kudos
Bookmarks
Profit= SP- Tax - Cost = X -(Y/100)X -Z =?
1) X − Z = 400
Profit= 400- (XY/100)
No info about CY
Insufficient
(2) XY = 1100
Profit= X- (1100/100) - Z
No info about X & Z
Insufficient
(1)&(2)
Profit = 400-1100/100 =400-11=389
Sufficient
C
1) X − Z = 400
Profit= 400- (XY/100)
No info about CY
Insufficient
(2) XY = 1100
Profit= X- (1100/100) - Z
No info about X & Z
Insufficient
(1)&(2)
Profit = 400-1100/100 =400-11=389
Sufficient
C
17 Sep 2025, 11:07
Kudos
Bookmarks
X dollar
x-yx/100-Z =profit
Option 1:
X-Z=400
400-xy/100 -z=profit . can't say
Option 2:
Xy=1100
X-Z-11=profit Can't say
option 1+2 together
400-11=389
sufficient
x-yx/100-Z =profit
Option 1:
X-Z=400
400-xy/100 -z=profit . can't say
Option 2:
Xy=1100
X-Z-11=profit Can't say
option 1+2 together
400-11=389
sufficient
Bunuel
17 Sep 2025, 17:14
Kudos
Bookmarks
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
The key here is to understand that Cost of Good in accounting terms is Direct labour, Raw materials, Manufacturing labour etc, which is essentially COST PRICE or MAKING COST of the product. Bunuel: Please confirm if GMAT have questions which tests information which needs specific subject matter expertise.
Profit after tax= Revenue-Tax-Cost of goods
Revenue-Tax=X-Y% of X of which is (100-Y)/100*X
Profit= X-\(\frac{XY}{100}\)-Z
Statement 1: X-Z, we dont know XY
Statement 2: We know XY but no X-Z
Together Sufficient as we have X-Z and XY
(1) X − Z = 400
(2) XY = 1100
The key here is to understand that Cost of Good in accounting terms is Direct labour, Raw materials, Manufacturing labour etc, which is essentially COST PRICE or MAKING COST of the product. Bunuel: Please confirm if GMAT have questions which tests information which needs specific subject matter expertise.
Profit after tax= Revenue-Tax-Cost of goods
Revenue-Tax=X-Y% of X of which is (100-Y)/100*X
Profit= X-\(\frac{XY}{100}\)-Z
Statement 1: X-Z, we dont know XY
Statement 2: We know XY but no X-Z
Together Sufficient as we have X-Z and XY
