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# A retailer purchased a television set for x percent less than its list

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Re: A retailer purchased a television set for x percent less than its list [#permalink]
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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.

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Re: A retailer purchased a television set for x percent less than its list [#permalink]
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Re: A retailer purchased a television set for x percent less than its list [#permalink]
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.
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Re: A retailer purchased a television set for x percent less than its list [#permalink]
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
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Re: A retailer purchased a television set for x percent less than its list [#permalink]
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)
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Re: A retailer purchased a television set for x percent less than its list [#permalink]
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Re: A retailer purchased a television set for x percent less than its list [#permalink]
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