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At a retail shop, the price of a pencil was $0.20 more than the price

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At a retail shop, the price of a pencil was $0.20 more than the price  [#permalink]

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New post 22 Oct 2018, 00:25
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E

Difficulty:

  55% (hard)

Question Stats:

63% (01:55) correct 37% (01:25) wrong based on 45 sessions

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At a retail shop, the price of a pencil was $0.20 more than the price of an eraser. What was the revenue from the sale of erasers at the shop yesterday?

(1) The number of erasers sold at the shop yesterday was 10 more than the number of pencils.
(2) The total revenue from the sale of pencils at the shop yesterday was $30.

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Re: At a retail shop, the price of a pencil was $0.20 more than the price  [#permalink]

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New post 22 Oct 2018, 15:22
Bunuel wrote:
At a retail shop, the price of a pencil was $0.20 more than the price of an eraser. What was the revenue from the sale of erasers at the shop yesterday?

(1) The number of erasers sold at the shop yesterday was 10 more than the number of pencils.
(2) The total revenue from the sale of pencils at the shop yesterday was $30.


Let price of pencil be p
Price of eraser be e

p = 0.20 + e

Let the number of erasers be x
Number of pencil be y

Revenue from erasers = price of erasers * number of erasers

Revenue = e * x

To find the revenue we must know these two variables.

Statement 1)

Tells us x = y + 10

Insufficient.

Statement 2)

Tells us revenue of pencil = 30

So 30 = p * y

We have two variables insufficient.

Combined still insufficient as we don’t have enough information.

Answer choice E

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Re: At a retail shop, the price of a pencil was $0.20 more than the price  [#permalink]

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New post 22 Oct 2018, 18:20
I got to the point where a quadratic equation could be set up using both statement 1 and 2, but I couldn't progress further. I don't know how to prove that it's insufficient. Please prove.
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Re: At a retail shop, the price of a pencil was $0.20 more than the price  [#permalink]

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New post 23 Oct 2018, 03:41
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Hi philipssonicare

As I wrote in my post, Revenue of Erases = e * x

We know p = 0.20 + e

now from statement 1) we know x = y + 10

From statement 2) we know 30 = p * y

For the second statement it can be rearranged to 30 = (0.20 + e) * y

Now even if I combine both I get 30 = (0.20 + e) (x -10)

I have one equation and two variables.

I hope this helps.
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Re: At a retail shop, the price of a pencil was $0.20 more than the price   [#permalink] 23 Oct 2018, 03:41
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At a retail shop, the price of a pencil was $0.20 more than the price

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