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A high-end clothing store purchased a black leather jacket for x perce
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Bunuel
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A high-end clothing store purchased a black leather jacket for x perce [#permalink] New post  29 Jun 2022, 07:30
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83% (01:13) correct 17% (01:33) wrong based on 18 sessions

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A high-end clothing store purchased a black leather jacket for x percent less than its list price and sold it for y percent less than its list price. What was the list price of the leather jacket?

(1) y = 10
(2) x – y = 10
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JerryAtDreamScore
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Re: A high-end clothing store purchased a black leather jacket for x perce [#permalink] New post  02 Jul 2022, 05:53
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Bunuel wrote:
A high-end clothing store purchased a black leather jacket for x percent less than its list price and sold it for y percent less than its list price. What was the list price of the leather jacket?

(1) y = 10
(2) x – y = 10


Breaking Down the Info:

Set the list price as L. The "cost" would be \((1-x%)L\) and the "revenue" would be \((1-y%)L\). The profit can be expressed as \((x-y)%*L\).

Statement 1 Alone:

We know the ratio of revenue to list price, but this doesn't tell us the list price. Insufficient.

Statement 2 Alone:

We know the ratio of profit to the list price, but this doesn't tell us the list price. Insufficient.

Both Statements Combined:

We are only given ratios and there is not a single quantity. Insufficient.

Answer: E
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Re: A high-end clothing store purchased a black leather jacket for x perce [#permalink]
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