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A retailer purchased a television set for x percent less tha

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A retailer purchased a television set for x percent less tha  [#permalink]

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New post 12 Sep 2013, 08:18
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A retailer purchased a television set for x percent less than its list price, and then sold it for y percent less than the list price. What was the list price of the television set?

(1) x = 15
(2) x – y = 5

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Re: A retailer purchased a television set for x percent less tha  [#permalink]

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New post 12 Sep 2013, 08:25
obs23 wrote:
A retailer purchased a television set for x percent less than its list price, and then sold it for y percent less than the list price. What was the list price of the television set?

(1) x = 15
(2) x – y = 5


It's straight E. Even though when combined we know that x=15 and y=10, this is still insufficient to answer the question. Everything is in percents, the price can be anything.
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Re: A retailer purchased a television set for x percent less tha  [#permalink]

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New post 14 Sep 2013, 02:09
Bunuel wrote:
obs23 wrote:
A retailer purchased a television set for x percent less than its list price, and then sold it for y percent less than the list price. What was the list price of the television set?

(1) x = 15
(2) x – y = 5


It's straight E. Even though when combined we know that x=15 and y=10, this is still insufficient to answer the question. Everything is in percents, the price can be anything.


I know it is not hard at all, I just wanted to see if I was setting it up correctly. \(P = L - \frac{x}{100}L\) and \(S=L-\frac{y}{100}L\)? P = purchase price, S - selling price and L - list price. Do my equations look ok and is this the way you would set the initial information up? Thanks.
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Re: A retailer purchased a television set for x percent less tha  [#permalink]

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New post 14 Sep 2013, 03:52
obs23 wrote:
Bunuel wrote:
obs23 wrote:
A retailer purchased a television set for x percent less than its list price, and then sold it for y percent less than the list price. What was the list price of the television set?

(1) x = 15
(2) x – y = 5


It's straight E. Even though when combined we know that x=15 and y=10, this is still insufficient to answer the question. Everything is in percents, the price can be anything.


I know it is not hard at all, I just wanted to see if I was setting it up correctly. \(P = L - \frac{x}{100}L\) and \(S=L-\frac{y}{100}L\)? P = purchase price, S - selling price and L - list price. Do my equations look ok and is this the way you would set the initial information up? Thanks.


Yes, your equations are correct.
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New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
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Re: A retailer purchased a television set for x percent less tha  [#permalink]

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New post 25 Jul 2018, 14:49
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