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At what price was the article sold?

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Joined: 02 Sep 2009
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At what price was the article sold?  [#permalink]

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New post 03 Jul 2017, 04:55
1
2
00:00
A
B
C
D
E

Difficulty:

  45% (medium)

Question Stats:

63% (01:28) correct 37% (00:59) wrong based on 52 sessions

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Joined: 26 Feb 2016
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Re: At what price was the article sold?  [#permalink]

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New post 03 Jul 2017, 06:02
We have been asked to find the selling price

1. The article was sold at 10 percent profit
If the cost price is 100, the selling price is 110
If the cost price is 200, the selling price is 220
No unique selling price can be determined. (Insufficient)

2. Had the article been sold for $150 more than what it was sold, the profit would have been 12 percent
Without knowing what profit/loss percentage the article was selling at,
we cannot tell the exact selling price
if the article sold for 150$ more, and 12% profit was generated successfully(Insufficient)

On combining both the statements,
we know the item was being sold at 10% profit and an additional 150$, made the overall profit percentage 12%
So, essentially, the 2% increase was 150$ and the selling price(100%) was 7500$(Sufficient)(Option C)
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Re: At what price was the article sold?  [#permalink]

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New post 20 Mar 2019, 11:31
let, cp= x
from I, sp= 1.1x, no other information is available so, not A, neither D
from II, sp + 150 = 1.12 x, but no information about sp is provided, so not B
Combining, 1.1x + 150= 1.12x, thus cp and sp can be calculated
answer C
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Re: At what price was the article sold?  [#permalink]

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New post 20 Mar 2019, 15:55
Bunuel wrote:
At what price was the article sold?

(1) The article was sold at 10 percent profit.
(2) Had the article been sold for $150 more than what it was sold, the profit would have been 12 percent


St. 1 - 2 variables, hence eliminate A
St. 2 - 2 variables again, hence eliminate B

Combine both statements- atleast 1 variable is same in both of them, hence we are left with only 1 variable and 1 equation.
Ans. C, Easy Peasy
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Re: At what price was the article sold?   [#permalink] 20 Mar 2019, 15:55
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