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# A jewelry dealer initially offered a bracelet for sale at

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Director
Joined: 05 Jan 2008
Posts: 674
A jewelry dealer initially offered a bracelet for sale at [#permalink]

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20 May 2008, 22:49
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The OA seems to be wrong, just want to get this validate by other members.

A jewelry dealer initially offered a bracelet for sale at an asking price that would give a profit to the dealer of 40 percent of the original cost. What was the original cost of the bracelet?

(1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of \$403.
(2) The jewelry dealer sold the bracelet for \$1,953.

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Intern
Joined: 30 Dec 2003
Posts: 32
Location: Danbury

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21 May 2008, 00:45
let asking price be - x

1- 1.4*0.9*x = \$403
so easily you can find x

2- 1.4x =1953, find x

so ans must be D
Director
Joined: 05 Jan 2008
Posts: 674

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21 May 2008, 03:09
given OA is B. -> which I doubt

I got D too,
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SVP
Joined: 04 May 2006
Posts: 1824
Schools: CBS, Kellogg

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21 May 2008, 03:32
prasannar wrote:
given OA is B. -> which I doubt

I got D too,

asking price is NOT sold price!
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Joined: 28 Dec 2004
Posts: 3311
Location: New York City
Schools: Wharton'11 HBS'12

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21 May 2008, 12:47
prasannar wrote:
The OA seems to be wrong, just want to get this validate by other members.

A jewelry dealer initially offered a bracelet for sale at an asking price that would give a profit to the dealer of 40 percent of the original cost. What was the original cost of the bracelet?

(1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of \$403.
(2) The jewelry dealer sold the bracelet for \$1,953.

i think this E.

selling price is not the sasme as originial cost..clearly B is insuff

1) too insuff..
Director
Joined: 01 May 2007
Posts: 788

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21 May 2008, 13:02
I thought D as well. What is the source of this question?
Manager
Joined: 28 Apr 2008
Posts: 110

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04 Jun 2008, 12:05

In(2), it isn't said whether the selling price was the initial asking price.
One can also get to (2) from(1).
Manager
Joined: 01 May 2008
Posts: 109
Location: São Paulo

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05 Jun 2008, 11:29
It must me D

we can solve A:
1,4x*0,9x-x = 403
x (cost) = 1550

asking price = 1550 * 1,4 = 2170
with a discount of 10% = 1953

1953 - 1550 = 403
Manager
Joined: 11 Mar 2008
Posts: 110

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03 Nov 2008, 15:03
prasannar wrote:
The OA seems to be wrong, just want to get this validate by other members.

A jewelry dealer initially offered a bracelet for sale at an asking price that would give a profit to the dealer of 40 percent of the original cost. What was the original cost of the bracelet?

(1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of \$403.
(2) The jewelry dealer sold the bracelet for \$1,953.

The ans is A, here is my reasoning:

what info do we need to answer the question – what is the Original Cost?

From the q's premise we know that Asking Price/Original Cost=140/100.
In order to find the OC we must know AP.

1. tells us that 0.9AP-OP=403
Now we have two equations and two unknowns:
AP/OC=140/100
0.9AP-OP=403
Can we solve for OP? Yes, thus sufficient

2. tells us that the Sale Price=\$1953. In order to answer the question we need to know the AP.
Does SP=AP? Possible, but we don’t know for certain, thus insufficient.
SVP
Joined: 17 Jun 2008
Posts: 1502

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04 Nov 2008, 02:10
Agree with A.

What is the OE for answer to be B?

--== Message from GMAT Club Team ==--

This is not a quality discussion. It has been retired.

If you would like to discuss this question please re-post it in the respective forum. Thank you!

To review the GMAT Club's Forums Posting Guidelines, please follow these links: Quantitative | Verbal Please note - we may remove posts that do not follow our posting guidelines. Thank you.
Re: DS:   [#permalink] 04 Nov 2008, 02:10
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# A jewelry dealer initially offered a bracelet for sale at

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