GMAT Changed on April 16th - Read about the latest changes here

It is currently 22 Apr 2018, 22:13

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

A retailer purchased a television set for x percent less tha

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Expert Post
2 KUDOS received
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 44608
A retailer purchased a television set for x percent less tha [#permalink]

Show Tags

New post 24 Dec 2013, 03:55
2
This post received
KUDOS
Expert's post
4
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  15% (low)

Question Stats:

79% (01:08) correct 21% (01:05) wrong based on 664 sessions

HideShow timer Statistics

The Official Guide For GMAT® Quantitative Review, 2ND Edition

A retailer purchased a television set for x percent less than its list price, and then sold it for y percent less than its list price. What was the list price of the television set?

(1) x = 15
(2) x - y = 5

Data Sufficiency
Question: 5
Category: Arithmetic Percents
Page: 153
Difficulty: 550


GMAT Club is introducing a new project: The Official Guide For GMAT® Quantitative Review, 2ND Edition - Quantitative Questions Project

Each week we'll be posting several questions from The Official Guide For GMAT® Quantitative Review, 2ND Edition and then after couple of days we'll provide Official Answer (OA) to them along with a slution.

We'll be glad if you participate in development of this project:
1. Please provide your solutions to the questions;
2. Please vote for the best solutions by pressing Kudos button;
3. Please vote for the questions themselves by pressing Kudos button;
4. Please share your views on difficulty level of the questions, so that we have most precise evaluation.

Thank you!
[Reveal] Spoiler: OA

_________________

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?
Extra-hard Quant Tests with Brilliant Analytics

Expert Post
2 KUDOS received
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 44608
Re: A retailer purchased a television set for x percent less tha [#permalink]

Show Tags

New post 24 Dec 2013, 03:55
2
This post received
KUDOS
Expert's post
1
This post was
BOOKMARKED
SOLUTION

A retailer purchased a television set for x percent less than its list price, and then sold it for y percent less than its list price. What was the list price of the television set?

(1) x = 15. Clearly insufficient.

(2) x - y = 5. Clearly insufficient.

(1)+(2) Even though we know the values of x and y, we still don't know ANY dollar value (list price, purchase price, selling price). Not sufficient.

Answer: E.
_________________

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?
Extra-hard Quant Tests with Brilliant Analytics

3 KUDOS received
Board of Directors
User avatar
G
Joined: 01 Sep 2010
Posts: 3414
Re: A retailer purchased a television set for x percent less tha [#permalink]

Show Tags

New post 24 Dec 2013, 06:58
3
This post received
KUDOS
Here is a question in which we have to speed up our time to gain more on a difficult question, later.

We certaily set up various % in order to try to find a value.

basically the list price is L and we buy it for a certain % less 20, 30, 5, or else and the same for y

For instance: if X is 15% less we know straight that L is 0.85 and so on.

BUT at a closer look and inspection we do not have a numerical value, what I call an "anchor point" to work with.....

So the Answer must be E without set up anything.

E is the answer and move on..........
_________________

COLLECTION OF QUESTIONS AND RESOURCES
Quant: 1. ALL GMATPrep questions Quant/Verbal 2. Bunuel Signature Collection - The Next Generation 3. Bunuel Signature Collection ALL-IN-ONE WITH SOLUTIONS 4. Veritas Prep Blog PDF Version 5. MGMAT Study Hall Thursdays with Ron Quant Videos
Verbal:1. Verbal question bank and directories by Carcass 2. MGMAT Study Hall Thursdays with Ron Verbal Videos 3. Critical Reasoning_Oldy but goldy question banks 4. Sentence Correction_Oldy but goldy question banks 5. Reading-comprehension_Oldy but goldy question banks

Manager
Manager
User avatar
Status: GMATting
Joined: 21 Mar 2011
Posts: 106
Concentration: Strategy, Technology
GMAT 1: 590 Q45 V27
GMAT ToolKit User
Re: A retailer purchased a television set for x percent less tha [#permalink]

Show Tags

New post 25 Dec 2013, 11:11
1
This post was
BOOKMARKED
The question asks for the list price. We will not be able to arrive at this list price unless some price percentage is provided. Both statements provide some percentage value with which we have no clue on the price.
Ex., If the list price were 100, x would be 85; If the list price were 1000, x would be 850. So, there is no price number.

Hence E is the answer.
1 KUDOS received
Manager
Manager
avatar
Joined: 09 Apr 2013
Posts: 137
Location: India
WE: Supply Chain Management (Consulting)
GMAT ToolKit User
Re: A retailer purchased a television set for x percent less tha [#permalink]

Show Tags

New post 25 Dec 2013, 11:53
1
This post received
KUDOS
Had either of the two statements given information about profit the retailer made, the answer would have been different. Anyways, E must be the answer here.
_________________

+1 KUDOS is the best way to say thanks :-)

"Pay attention to every detail"

Manager
Manager
avatar
B
Joined: 09 Aug 2016
Posts: 68
A retailer purchased a television set for x percent less tha [#permalink]

Show Tags

New post Updated on: 02 Feb 2017, 09:39
A retailer purchased a television set for x percent less than its list price, and then sold it for y percent less than its list price. What was the list price of the television set?

(1) x = 15
(2) x - y = 5


Translating question stem into formulas we have (P= purchase price, L = list price, S = selling price):

Clue 1) "purchased a television set for x percent less than its list price"= P = (1 - x/100) * L

Clue 2) "sold it for y percent less than its list price" = S= (1 - y/100) * L

Question L = ?

Unfortunately since we need the concrete value L we need S or P even if we know x, y. Hence E

Imho this question is very easy only if you REALISE, soon enough, that you have 3 unknowns. This means that you have to end up quickly enough with an equation that encapsulates the problem.

Originally posted by Ndkms on 08 Jan 2017, 06:56.
Last edited by Ndkms on 02 Feb 2017, 09:39, edited 1 time in total.
Senior Manager
Senior Manager
User avatar
S
Joined: 25 Mar 2013
Posts: 267
Location: United States
Concentration: Entrepreneurship, Marketing
GPA: 3.5
GMAT ToolKit User Reviews Badge
Re: A retailer purchased a television set for x percent less tha [#permalink]

Show Tags

New post 23 Jan 2017, 09:52
x% less than list price
y% less than list price
1, x = 15
Not sufficient for list price
2, x - y = 5
25 - 20 = 5
15 -10 =5
Insufficient
3, x - y =5
x = 15, y =10
Insufficient no enough data
E
_________________

I welcome analysis on my posts and kudo +1 if helpful. It helps me to improve my craft.Thank you

Director
Director
User avatar
P
Status: It's near - I can see.
Joined: 13 Apr 2013
Posts: 719
Location: India
Concentration: International Business, Operations
GMAT 1: 480 Q38 V22
GPA: 3.01
WE: Engineering (Consulting)
Premium Member Reviews Badge
Re: A retailer purchased a television set for x percent less tha [#permalink]

Show Tags

New post 17 Apr 2018, 23:32
Bunuel wrote:
The Official Guide For GMAT® Quantitative Review, 2ND Edition

A retailer purchased a television set for x percent less than its list price, and then sold it for y percent less than its list price. What was the list price of the television set?

(1) x = 15
(2) x - y = 5


St 1: We need a numerical value of list price, and also we don't know "y". Insufficient

St 2: It gives us the relation between x and y. Insufficient

Combining 1 and 2, we get values of x and y.

we still don't know x% of what and y% of what. Insufficient

Hence (E)
_________________

"Success is not as glamorous as people tell you. It's a lot of hours spent in the darkness."

Re: A retailer purchased a television set for x percent less tha   [#permalink] 17 Apr 2018, 23:32
Display posts from previous: Sort by

A retailer purchased a television set for x percent less tha

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.