January 19, 2019 January 19, 2019 07:00 AM PST 09:00 AM PST Aiming to score 760+? Attend this FREE session to learn how to Define your GMAT Strategy, Create your Study Plan and Master the Core Skills to excel on the GMAT. January 20, 2019 January 20, 2019 07:00 AM PST 07:00 AM PST Get personalized insights on how to achieve your Target Quant Score.
Author 
Message 
TAGS:

Hide Tags

Math Expert
Joined: 02 Sep 2009
Posts: 52278

A retailer purchased a television set for x percent less tha
[#permalink]
Show Tags
24 Dec 2013, 02:55
Question Stats:
79% (01:25) correct 21% (01:25) wrong based on 851 sessions
HideShow timer Statistics
The Official Guide For GMAT® Quantitative Review, 2ND EditionA 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 ProjectEach 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!
Official Answer and Stats are available only to registered users. Register/ Login.
_________________
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? Extrahard Quant Tests with Brilliant Analytics



Math Expert
Joined: 02 Sep 2009
Posts: 52278

Re: A retailer purchased a television set for x percent less tha
[#permalink]
Show Tags
24 Dec 2013, 02:55



Board of Directors
Joined: 01 Sep 2010
Posts: 3281

Re: A retailer purchased a television set for x percent less tha
[#permalink]
Show Tags
24 Dec 2013, 05:58
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 ALLINONE 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. Readingcomprehension_Oldy but goldy question banks



Manager
Status: GMATting
Joined: 21 Mar 2011
Posts: 105
Concentration: Strategy, Technology

Re: A retailer purchased a television set for x percent less tha
[#permalink]
Show Tags
25 Dec 2013, 10:11
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.



Manager
Joined: 09 Apr 2013
Posts: 105
Location: India
WE: Supply Chain Management (Consulting)

Re: A retailer purchased a television set for x percent less tha
[#permalink]
Show Tags
25 Dec 2013, 10:53
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
Joined: 09 Aug 2016
Posts: 66

A retailer purchased a television set for x percent less tha
[#permalink]
Show Tags
Updated on: 02 Feb 2017, 08:39
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, 05:56.
Last edited by Ndkms on 02 Feb 2017, 08:39, edited 1 time in total.



Manager
Joined: 25 Mar 2013
Posts: 240
Location: United States
Concentration: Entrepreneurship, Marketing
GPA: 3.5

Re: A retailer purchased a television set for x percent less tha
[#permalink]
Show Tags
23 Jan 2017, 08:52
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



VP
Status: It's near  I can see.
Joined: 13 Apr 2013
Posts: 1363
Location: India
Concentration: International Business, Operations
GPA: 3.01
WE: Engineering (Consulting)

Re: A retailer purchased a television set for x percent less tha
[#permalink]
Show Tags
17 Apr 2018, 22:32
Bunuel wrote: The Official Guide For GMAT® Quantitative Review, 2ND EditionA 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". InsufficientSt 2: It gives us the relation between x and y. InsufficientCombining 1 and 2, we get values of x and y. we still don't know x% of what and y% of what. InsufficientHence (E)
_________________
"Do not watch clock; Do what it does. KEEP GOING."




Re: A retailer purchased a television set for x percent less tha &nbs
[#permalink]
17 Apr 2018, 22:32






