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30 Apr 2010, 10:44
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At the beginning of the last year, a car dealership had 150 cars in stock, which the dealership had purchased for $20,000 each. During the same year, the dealership made only one purchase of the cars. What is the total amount spent by the dealership on the cars it had in stock at the end of the last year?
1) Last year the dealership purchased 50 cars for $18,000 each
2) Last year the total revenue from the sale of the cars was $180,000
1) Last year the dealership purchased 50 cars for $18,000 each
2) Last year the total revenue from the sale of the cars was $180,000
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30 Apr 2010, 12:53
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At the beginning of the last year, a car dealership had 150 cars in stock, which the dealership had purchased for $20,000 each. During the same year, the dealership made only one purchase of the cars. What is the total amount spent by the dealership on the cars it had in stock at the end of the last year?
1) Last year the dealership purchased 50 cars for $18,000 each
2) Last year the total revenue from the sale of the cars was $180,000
Requirement: Total Amount Spent on car which has at the end of the year.
It can be deduced from: Tot Cost = No of Cars at the end of the year ( Cost of Purchase ) + Cost for Stocking the no of cars.
Opt - 1) begning of year no of cars ( Cost of purchase ) + no of times purchased during the year ( Cost ).
It tells amount spend on cars. ( It holds good )
Opt -2) It tells revenue earned on cars. ( not needed ).
So : Only Option A is sufficient.
1) Last year the dealership purchased 50 cars for $18,000 each
2) Last year the total revenue from the sale of the cars was $180,000
Requirement: Total Amount Spent on car which has at the end of the year.
It can be deduced from: Tot Cost = No of Cars at the end of the year ( Cost of Purchase ) + Cost for Stocking the no of cars.
Opt - 1) begning of year no of cars ( Cost of purchase ) + no of times purchased during the year ( Cost ).
It tells amount spend on cars. ( It holds good )
Opt -2) It tells revenue earned on cars. ( not needed ).
So : Only Option A is sufficient.
30 Apr 2010, 14:11
Kudos
Bookmarks
I agree that the meaning is unclear, but this is how I see it.
We need:
Cost of stock at the beginning of the year
Cost of stock purchased
Cost of stock sold
From the original statement, we know how many cars they had in stock at the beginning of the year, and how much they cost. We need to know what they had left at the end of the year, and the cost of those cars. Only one purchase was made, but we don’t know how much each car cost, or, how many cars were purchased. We also don’t know how many cars they sold, and which cars they sold; the ones already in stock at the beginning of the year, or the ones purchased for an unknown amount.
Statement 1: Now we know the details of the purchase, but without knowing how many cars were sold, and which cars were sold, we cannot find out the cost of the stock at the end of the year. Insufficient.
Statement 2: This gives us the revenue of what was sold during the year. But it doesn’t tell us the cost of the cars that were sold. We need the details of the cost of the specific cars sold. Insufficient.
Together, without know the details regarding the cost of the cars bought, but we are still missing the cost of cars sold. Insufficient.
My choice is E. What’s the OA?
We need:
Cost of stock at the beginning of the year
Cost of stock purchased
Cost of stock sold
From the original statement, we know how many cars they had in stock at the beginning of the year, and how much they cost. We need to know what they had left at the end of the year, and the cost of those cars. Only one purchase was made, but we don’t know how much each car cost, or, how many cars were purchased. We also don’t know how many cars they sold, and which cars they sold; the ones already in stock at the beginning of the year, or the ones purchased for an unknown amount.
Statement 1: Now we know the details of the purchase, but without knowing how many cars were sold, and which cars were sold, we cannot find out the cost of the stock at the end of the year. Insufficient.
Statement 2: This gives us the revenue of what was sold during the year. But it doesn’t tell us the cost of the cars that were sold. We need the details of the cost of the specific cars sold. Insufficient.
Together, without know the details regarding the cost of the cars bought, but we are still missing the cost of cars sold. Insufficient.
My choice is E. What’s the OA?
