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# At the beginning of the last month, a stationery store had

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Director
Joined: 27 Dec 2004
Posts: 896

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

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30 Mar 2005, 19:41
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Question Stats:

47% (01:15) correct 53% (01:24) wrong based on 164 sessions

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At the beginning of the last month, a stationery store had on 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?

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

OPEN DISCUSSION OF THIS QUESTION IS HERE: at-the-beginning-of-last-month-a-stationery-store-had-in-85710.html
[Reveal] Spoiler: OA

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Director
Joined: 03 Nov 2004
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30 Mar 2005, 19:47
E
We need to know 2 things to answer this question.
a. Cost price of the one purchase made during that month
b. Total Sales made in each of the 2 lots

1 - gives us info 'a' but not 'b'
2 - gives us total revenue but we do not know the break-ups.
both put together - still 'b' can not be derived.

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Director
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30 Mar 2005, 19:51

the question does not say anything about sales made in each of the two lots, why did you assume there was a sale ? Do we keep assuming like this on the test? I don't get this. Most study guides suggest we work with the information given as opposed to 'assuming'

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VP
Joined: 25 Nov 2004
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30 Mar 2005, 19:53
Another E.

Floaa3, in statt ii, it says the revenue from the sale.

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Director
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30 Mar 2005, 20:04
MA wrote:
Another E.

Floaa3, in statt ii, it says the revenue from the sale.

Yes i notice that in statmt 2, there is info about revenue from sales, but the stem itself doesn't mention that any sales were made.
On the GMAT, is it safe to assume based on either or both statements 1 and 2?
Does the information given in statements 1 and 2 of data sufficiency serve as basis for assumption?

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Director
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30 Mar 2005, 20:27
Folaa3 wrote:

the question does not say anything about sales made in each of the two lots, why did you assume there was a sale ? Do we keep assuming like this on the test? I don't get this. Most study guides suggest we work with the information given as opposed to 'assuming'

Couple of things:
1. The question says a 'stationery store had on stock'.
2. It asks us for the Cost Price of the stock on hand - so it is natural to assume that there will be a Selling Price.

But your question made me think - I am not sure if such an assumption will be necessary for the real GMAT questions.

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30 Mar 2005, 20:31
beginning of month: 250 pads, \$0.75 each

(1) Last month, the store purchased 150 writing pads for \$0.80 each.
- Nothing about number sold, so we can't tell what is the amount in stock at end of the month

(2) Last month the total revenue from the sale of writing pad was \$180.
- We do not know how many are bought.

1+2) We still do not know how many are sold and for what selling price.

E it is.

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VP
Joined: 18 Nov 2004
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30 Mar 2005, 20:36
"E"....last part of the question is asking how much the company paid for the pads that they had in "stock" by end of the month, as we don't know what that number is i.e. how many were sold etc, we can't say what that stock was, hence can't ans the cost of that stock.

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Director
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30 Mar 2005, 20:48
Thanks guys... OA is in fact E

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SVP
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31 Mar 2005, 08:00
Folaa3 wrote:

the question does not say anything about sales made in each of the two lots, why did you assume there was a sale ? Do we keep assuming like this on the test? I don't get this. Most study guides suggest we work with the information given as opposed to 'assuming'

You don't have to assume that there was a sale. Since we don't know if there was a sale or not, the answer to (1) is not unique, so (1) is not sufficient. The assumption you CAN'T make, is that there is no sales for (1).

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Director
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18 Apr 2007, 07:21
Guys! Is it right that we should make certain assumptions in GMAT math?
See attached OE to this problem.
Attachments

Assumption in GMAT math!!!.JPG [ 47.09 KiB | Viewed 2659 times ]

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Senior Manager
Joined: 29 Jan 2011
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17 Nov 2011, 03:37
ywilfred wrote:
beginning of month: 250 pads, \$0.75 each

(1) Last month, the store purchased 150 writing pads for \$0.80 each.
- Nothing about number sold, so we can't tell what is the amount in stock at end of the month

(2) Last month the total revenue from the sale of writing pad was \$180.
- We do not know how many are bought.

1+2) We still do not know how many are sold and for what selling price.

E it is.

if we combine 1 and 2 cant we get the amount spent by store at the end of month ...since we have total spent and revenue? so if we subtract total spent on buying pads - revenue received ?

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Intern
Joined: 12 Apr 2013
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22 Jun 2013, 08:12
siddhans wrote:
ywilfred wrote:
beginning of month: 250 pads, \$0.75 each

(1) Last month, the store purchased 150 writing pads for \$0.80 each.
- Nothing about number sold, so we can't tell what is the amount in stock at end of the month

(2) Last month the total revenue from the sale of writing pad was \$180.
- We do not know how many are bought.

1+2) We still do not know how many are sold and for what selling price.

E it is.

if we combine 1 and 2 cant we get the amount spent by store at the end of month ...since we have total spent and revenue? so if we subtract total spent on buying pads - revenue received ?

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Math Expert
Joined: 02 Sep 2009
Posts: 41892

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

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22 Jun 2013, 08:45
Folaa3 wrote:
At the beginning of the last month, a stationery store had on 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?

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

OPEN DISCUSSION OF THIS QUESTION IS HERE: at-the-beginning-of-last-month-a-stationery-store-had-in-85710.html
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Kudos [?]: 129029 [0], given: 12187

Re: At the beginning of the last month, a stationery store had   [#permalink] 22 Jun 2013, 08:45
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