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At the beginning of last month, a stationery store had in st

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At the beginning of last month, a stationery store had in st [#permalink]

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New post 19 Jun 2014, 12:42
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At the beginning of last month, a stationery store had in stock 250 writing pads, which had cost the store $0.75 each. During the same month, the store made only one purchase of writing pads. What was the total amount spent by the store on the writing pads it had in stock at the end of the month?

(1) Last month the store purchased 150 writing pads for $0.80 each.
(2) Last month the total revenue from the sale of writing pads was $180
[Reveal] Spoiler: OA

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New post 19 Jun 2014, 12:43
Bunuel wrote:

GMAT weekly questions



At the beginning of last month, a stationery store had in stock 250 writing pads, which had cost the store $0.75 each. During the same month, the store made only one purchase of writing pads. What was the total amount spent by the store on the writing pads it had in stock at the end of the month?

(1) Last month the store purchased 150 writing pads for $0.80 each.
(2) Last month the total revenue from the sale of writing pads was $180


It is known that the pads in stock at the beginning of the month cost the store 250 x $0.75, but the cost of the additional pads purchased is not known. In addition, the number of pads sold and their cost is not known.

Since statement (1) gives no information about the number and cost of the pads sold, it is not sufficient, and the answer must be B, C, or E.

Statement (2) alone is not sufficient since it does not provide any of the information needed. Thus, the answer must be C or E.

Statements (1) and (2) together still do not provide sufficient information, since the number of pads sold and their cost cannot be determined.

The best answer is E.
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New post 19 Jun 2014, 23:02
Bunuel,
Do we need to consider the number of sold copies?
Number of sold copies is not given in question and sounds like an assumption.Can you please help when to consider an information,which is relevant but not provided in the question.

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New post 21 Jun 2014, 07:38
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ankushbassi wrote:
Bunuel,
Do we need to consider the number of sold copies?
Number of sold copies is not given in question and sounds like an assumption.Can you please help when to consider an information,which is relevant but not provided in the question.


In this case assuming that there was no sales would be an assumption, not vise-versa. Also, notice that the second statement talks about the revenue from the sale, so we know that there was in fact a sale of some number of pads.

Below is my solution for this question. Hope it helps.

At the beginning of last month, a stationery store had in stock 250 writing pads, which had cost the store $0.75 each. During the same month the store made only one purchase of writing pads. What was the total amount spent by the store on the writing pads it had in stock at the end of last month?

We are asked to determine the cost of goods in the end of the month.

(1) Last month the store purchased 150 writing pads for $ 0.80 each --> cost of goods at the beginning of the month=0.75*250, plus 150*0.8 store purchased during the month, BUT as long as we don't know how many pads store sold last month we cannot determine the number of pads left at the end of the month. Not sufficient.

(2) Last month the total revenue from the sales of the writing pads was $180. Well this is clearly insufficient. Was any number purchased during the month? What was the selling price of a pad? Not sufficient.

(1)+(2) We know how many and at what price was purchased during the month, plus we are told the revenue was 180, but we don't know the selling price of one pad, thus cannot determine how many was sold and how many left.

Answer: E.
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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.


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Re: At the beginning of last month, a stationery store had in st [#permalink]

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New post 06 Feb 2016, 13:03
Tricky one. Yes we need to actual number of pads to sold to count total value of items left on stock
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Re: At the beginning of last month, a stationery store had in st   [#permalink] 06 Feb 2016, 13:03
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