Last visit was: 18 May 2024, 23:27 It is currently 18 May 2024, 23:27
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
SORT BY:
Date
Tags:
Difficulty: 505-555 Level,    Arithmetic,    Percent and Interest Problems,                               
Show Tags
Hide Tags
Math Expert
Joined: 02 Sep 2009
Posts: 93334
Own Kudos [?]: 624853 [30]
Given Kudos: 81900
Send PM
Most Helpful Reply
Math Expert
Joined: 02 Sep 2009
Posts: 93334
Own Kudos [?]: 624853 [11]
Given Kudos: 81900
Send PM
Board of Directors
Joined: 01 Sep 2010
Posts: 4424
Own Kudos [?]: 33069 [7]
Given Kudos: 4480
Send PM
General Discussion
User avatar
Manager
Manager
Joined: 21 Mar 2011
Status:GMATting
Posts: 96
Own Kudos [?]: 284 [1]
Given Kudos: 104
Concentration: Strategy, Technology
GMAT 1: 590 Q45 V27
Send PM
Re: A retailer purchased a television set for x percent less than its list [#permalink]
1
Bookmarks
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.
User avatar
Manager
Manager
Joined: 09 Apr 2013
Posts: 74
Own Kudos [?]: 330 [1]
Given Kudos: 24
Location: India
WE:Supply Chain Management (Consulting)
Send PM
Re: A retailer purchased a television set for x percent less than its list [#permalink]
1
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.
Intern
Intern
Joined: 09 Aug 2016
Posts: 42
Own Kudos [?]: 66 [0]
Given Kudos: 8
Send PM
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.
Manager
Manager
Joined: 25 Mar 2013
Posts: 166
Own Kudos [?]: 130 [0]
Given Kudos: 101
Location: United States
Concentration: Entrepreneurship, Marketing
GPA: 3.5
Send PM
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
VP
VP
Joined: 13 Apr 2013
Status:It's near - I can see.
Posts: 1477
Own Kudos [?]: 1614 [0]
Given Kudos: 1002
Location: India
Concentration: International Business, Operations
GPA: 3.01
WE:Engineering (Real Estate)
Send PM
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)
User avatar
Non-Human User
Joined: 09 Sep 2013
Posts: 33078
Own Kudos [?]: 828 [0]
Given Kudos: 0
Send PM
Re: A retailer purchased a television set for x percent less than its list [#permalink]
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
GMAT Club Bot
Re: A retailer purchased a television set for x percent less than its list [#permalink]
Moderator:
Math Expert
93334 posts