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A furniture store-purchased sofas for a wholesale price of \$400 each

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Math Expert
Joined: 02 Sep 2009
Posts: 62499
A furniture store-purchased sofas for a wholesale price of \$400 each  [#permalink]

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09 Dec 2019, 01:59
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Difficulty:

65% (hard)

Question Stats:

51% (02:06) correct 49% (02:06) wrong based on 41 sessions

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A furniture store-purchased sofas for a wholesale price of \$400 each and sold most of them for a retail price of \$560 each. In a summer sale, the retail price of the last few sofas was reduced by x dollars, and they were sold at this reduced price. The store's profit form selling the last sofa was more than 15 percent of its wholesale price. Which of the following could be the value of x?

I. 50
II. 75
III. 100

A. I only
B. II only
C. III only
D. I and II only
E. I, II, and III

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Joined: 03 Apr 2015
Posts: 253
GMAT 1: 650 Q49 V31
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Re: A furniture store-purchased sofas for a wholesale price of \$400 each  [#permalink]

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09 Dec 2019, 07:14
1
A furniture store-purchased sofas for a wholesale price of \$400 each and sold most of them for a retail price of \$560 each. In a summer sale, the retail price of the last few sofas was reduced by x dollars, and they were sold at this reduced price. The store's profit form selling the last sofa was more than 15 percent of its wholesale price. Which of the following could be the value of x?

CP=400 general SP=560

If the profit was 15 percent on the selling of last sofa SP = 460
but we are give more than 15 so SP >460
so Difference : x needs to be less than 100 as 560 is max price and minimum price >460

only options 1 and 2 suffice
D
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Joined: 14 Feb 2020
Posts: 5
Re: A furniture store-purchased sofas for a wholesale price of \$400 each  [#permalink]

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04 Mar 2020, 21:02
Bunuel wrote:
A furniture store-purchased sofas for a wholesale price of \$400 each and sold most of them for a retail price of \$560 each. In a summer sale, the retail price of the last few sofas was reduced by x dollars, and they were sold at this reduced price. The store's profit form selling the last sofa was more than 15 percent of its wholesale price. Which of the following could be the value of x?

I. 50
II. 75
III. 100

A. I only
B. II only
C. III only
D. I and II only
E. I, II, and III

I feel the answer can be E. It states that the last few sofas was reduced by x dollars and only the last sofa was more than 15 percent of its wholesale price. Since x represents the last few sofas and not just the last sofa, couldn't they realistically sell for less than 15% of the wholesale price?

Example: there were three sofas left (i.e., last few) two of them sold for 460 and the last sold for 500. E would satisfy x and the circumstances of last sofa was more than 15 percent of its wholesale price.
Re: A furniture store-purchased sofas for a wholesale price of \$400 each   [#permalink] 04 Mar 2020, 21:02
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