Last visit was: 21 Jul 2024, 21:21 It is currently 21 Jul 2024, 21:21
Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Close
Request Expert Reply
Confirm Cancel
SORT BY:
Date
Tags:
Difficulty: 655-705 Level,   Word Problems,                        
Show Tags
Hide Tags
Senior Manager
Senior Manager
Joined: 11 May 2014
Status:I don't stop when I'm Tired,I stop when I'm done
Posts: 473
Own Kudos [?]: 39423 [155]
Given Kudos: 220
Location: Bangladesh
Concentration: Finance, Leadership
GPA: 2.81
WE:Business Development (Real Estate)
Send PM
Most Helpful Reply
Target Test Prep Representative
Joined: 14 Oct 2015
Status:Founder & CEO
Affiliations: Target Test Prep
Posts: 19175
Own Kudos [?]: 22687 [37]
Given Kudos: 286
Location: United States (CA)
Send PM
Intern
Intern
Joined: 26 Apr 2017
Posts: 40
Own Kudos [?]: 139 [10]
Given Kudos: 71
Send PM
General Discussion
Manager
Manager
Joined: 20 Aug 2015
Posts: 71
Own Kudos [?]: 49 [2]
Given Kudos: 158
Location: India
Schools: ISB '21 (A)
GMAT 1: 710 Q50 V36
GPA: 3
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
2
Kudos
Stmt 1.
Number of books purchased = 50*12 = 600
Total cost = 600*28 = 16800
Money received from the city = $15000
Since the library received enough money from the city to cover this cost, they must have received the bonus to cover the extra cost (16800 - 15000 = 1800)
Stmt 2.
The lowest number of items checked out in one month was 459. Considering this is the number of items checked out every month, number of items = 459 * 12 = 5508 which is more than the target 5000. So receives bonus.

Either of them is sufficient.
Ans D.
Retired Moderator
Joined: 10 Oct 2016
Status:Long way to go!
Posts: 1141
Own Kudos [?]: 6315 [2]
Given Kudos: 65
Location: Viet Nam
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
2
Kudos
Bunuel wrote:
For a certain city's library, the average cost of purchasing each new book is $28. The library receives $15,000 from the city each year; the library also receives a bonus of $2,000 if the total number of items checked out over the course of the year exceeds 5,000. Did the library receive the bonus last year?

(1) The library purchased an average of 50 new books each month last year and received enough money from the city to cover this cost.
(2) The lowest number of items checked out in one moth was 459.


(1) The total number of new books that the library purchased last year: 50 * 12 = 600 items < 5,000
=> The library didn't receive the bonus. Sufficient

(2) The total number of items checked out last year is equal to or greater than: 459 * 12 = 5,508 > 5,000
=> The library did receive the bonus. Sufficient.

The answer is D.
Intern
Intern
Joined: 29 Jan 2019
Posts: 2
Own Kudos [?]: 0 [0]
Given Kudos: 2
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
ScottTargetTestPrep wrote:
AbdurRakib wrote:
For a certain city's library, the average cost of purchasing each new book is $28. The library receives $15,000 from the city each year,the library also receives a bonus of $2,000 if the total number of items checked out over the course of the year exceeds 5,000.Did the library receive the bonus last year ?

(1) The library purchased an average of 50 new books each month last year and received enough money from the city to cover this cost.

(2) The lowest number of items checked out in one month was 459 .


We need to determine whether the library received a bonus of $2,000 last year. Keep in mind that the library will only receive the bonus if the total number of items checked out out last year exceeded 5,000.

Statement One Alone:

The library purchased an average of 50 new books each month last year and received enough money from the city to cover this cost.

Since the library purchased 50 new books each month, it purchased 50 x 12 = 600 books last year. Since each new book cost $28, the total cost of the 600 books last year was 28 x 600 = $16,800. Since we are given that the library received enough money from the city to cover this cost, it must have received the $2,000 bonus in addition to the $15,000 from the city. Statement one alone is sufficient to answer the question.

Statement Two Alone:

The lowest number of items checked out in one month was 459.

Since the lowest number of items checked out in one month was 459, the minimum number of items checked out last year was 459 x 12 = 5,508. Since 5,508 is more than 5,000, the library did receive the $2,000 bonus from the city. Statement two alone is sufficient to answer the question.

Answer: D


The question stem says the "average price" of a book purchased is $28. So for Statement 1, how can we assume that the price of the books purchases was $28? What if the library purchased just 15 books at $1,000 each? Surely then the library wouldn't have been able to meet the target for the bonus. Even if it did purchase more than 50 books, how do we know that the library was able to meet its target of checking out 50 books?
Target Test Prep Representative
Joined: 14 Oct 2015
Status:Founder & CEO
Affiliations: Target Test Prep
Posts: 19175
Own Kudos [?]: 22687 [0]
Given Kudos: 286
Location: United States (CA)
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
Expert Reply
sterlingarcher123 wrote:
ScottTargetTestPrep wrote:
AbdurRakib wrote:
For a certain city's library, the average cost of purchasing each new book is $28. The library receives $15,000 from the city each year,the library also receives a bonus of $2,000 if the total number of items checked out over the course of the year exceeds 5,000.Did the library receive the bonus last year ?

(1) The library purchased an average of 50 new books each month last year and received enough money from the city to cover this cost.

(2) The lowest number of items checked out in one month was 459 .


We need to determine whether the library received a bonus of $2,000 last year. Keep in mind that the library will only receive the bonus if the total number of items checked out out last year exceeded 5,000.

Statement One Alone:

The library purchased an average of 50 new books each month last year and received enough money from the city to cover this cost.

Since the library purchased 50 new books each month, it purchased 50 x 12 = 600 books last year. Since each new book cost $28, the total cost of the 600 books last year was 28 x 600 = $16,800. Since we are given that the library received enough money from the city to cover this cost, it must have received the $2,000 bonus in addition to the $15,000 from the city. Statement one alone is sufficient to answer the question.

Statement Two Alone:

The lowest number of items checked out in one month was 459.

Since the lowest number of items checked out in one month was 459, the minimum number of items checked out last year was 459 x 12 = 5,508. Since 5,508 is more than 5,000, the library did receive the $2,000 bonus from the city. Statement two alone is sufficient to answer the question.

Answer: D


The question stem says the "average price" of a book purchased is $28. So for Statement 1, how can we assume that the price of the books purchases was $28? What if the library purchased just 15 books at $1,000 each? Surely then the library wouldn't have been able to meet the target for the bonus. Even if it did purchase more than 50 books, how do we know that the library was able to meet its target of checking out 50 books?


On the first question: We can assume each book is the average price since the total cost of the books purchased (regardless of the actual price of each book) is always equal to the average price times the number of books purchased. For example, statement 1 just said an average of 50 books were purchased each month, but the total number of books purchased for the year must be 50 x 12 = 600 even though we don’t know the actual number of books purchased in any particular month. Therefore, even though we don’t know the actual price of each book, we make the same argument: that the library must have spent a total of 600 x 28 = $16,800 on the books.

On the second question: We don’t know how many books are actually checked out. But the number of books (5000) required to be checked out to receive the bonus is like a red herring in the problem. Because in statement 1, it says “[the library] received enough money from the city to cover this cost.” Well, the total cost of the books is $16,800, and the routine receipt of $15,000 from the city would not be able to cover the total $16,800 spent unless the library also receive the $2000 bonus.
Manager
Manager
Joined: 15 Jul 2016
Posts: 73
Own Kudos [?]: 83 [0]
Given Kudos: 191
Location: India
GMAT 1: 690 Q48 V36
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
What put me off in this question was St 1. St 2 can be solved using worst case scenario method.

The question explicitly says that the bonus is given if the total number of items checked out over the course of the year exceeds 5,000.

1) In St1, we do not know whether the library received the bonus. What if the fund of 15,000 dollars was increased this year to cover the cost?

2) Also, since in question statement, the condition of providing bonus is explicitly mentioned, how can we just assume that the bonus was provided in St 1 without even knowing the number of items checked out?

chetan2u VeritasKarishma Bunuel ScottTargetTestPrep egmat

Please help!
Tutor
Joined: 16 Oct 2010
Posts: 15126
Own Kudos [?]: 66769 [1]
Given Kudos: 436
Location: Pune, India
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
1
Kudos
Expert Reply
578vishnu wrote:
What put me off in this question was St 1. St 2 can be solved using worst case scenario method.

The question explicitly says that the bonus is given if the total number of items checked out over the course of the year exceeds 5,000.

1) In St1, we do not know whether the library received the bonus. What if the fund of 15,000 dollars was increased this year to cover the cost?

2) Also, since in question statement, the condition of providing bonus is explicitly mentioned, how can we just assume that the bonus was provided in St 1 without even knowing the number of items checked out?

chetan2u VeritasKarishma Bunuel ScottTargetTestPrep egmat

Please help!


As per stmnt 1, the total money spent on buying the books during the year = 50*12 *28 = 16,800
We are given that the library received enough money from the city to cover this cost. So it received at least $16,800 from the city. But the city gives only $15,000 per year (given in the question). A bonus is given only if more than 5000 books are checked out. Since the city gave $16,800, the city must have given the bonus 2000. So more than 5000 books must have been checked out.
Target Test Prep Representative
Joined: 14 Oct 2015
Status:Founder & CEO
Affiliations: Target Test Prep
Posts: 19175
Own Kudos [?]: 22687 [0]
Given Kudos: 286
Location: United States (CA)
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
Expert Reply
578vishnu wrote:
What put me off in this question was St 1. St 2 can be solved using worst case scenario method.

The question explicitly says that the bonus is given if the total number of items checked out over the course of the year exceeds 5,000.

1) In St1, we do not know whether the library received the bonus. What if the fund of 15,000 dollars was increased this year to cover the cost?

2) Also, since in question statement, the condition of providing bonus is explicitly mentioned, how can we just assume that the bonus was provided in St 1 without even knowing the number of items checked out?

chetan2u VeritasKarishma Bunuel ScottTargetTestPrep egmat

Please help!


1) For statement 1, we need to figure out how many books were purchased and how much they cost. Since 50 x 12 = 600 books were purchased and each book cost $28, the total cost was $16,800. There is no way the library can spend this much money unless they received the bonus. The fund of 15,000 is the same each year. It won’t increase; any extra money is from the bonus.

2) Because statement 1 states that “[the library] received enough money from the city to cover this cost,” which implies they did receive the bonus. Again, they spent $16,800 on books, but the regular amount they received is $15,000. So they must also received $2000 bonus in order to have $17,000 and spend $16,800 on books.
Tutor
Joined: 16 Oct 2010
Posts: 15126
Own Kudos [?]: 66769 [3]
Given Kudos: 436
Location: Pune, India
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
3
Kudos
Expert Reply
AbdurRakib wrote:
For a certain city's library, the average cost of purchasing each new book is $28. The library receives $15,000 from the city each year,the library also receives a bonus of $2,000 if the total number of items checked out over the course of the year exceeds 5,000.Did the library receive the bonus last year ?

(1) The library purchased an average of 50 new books each month last year and received enough money from the city to cover this cost.

(2) The lowest number of items checked out in one month was 459 .


Responding to a pm:

Quote:
i am not able to understand this question, it is mentioned in the question stem that the library receives bonus only if the total number of items checked out over the course of the year exceeds 5,000.
From statement 1 we know that the number of new books purchased were 600, which is less than 5000, i stopped solving further after i knew that number of new books purchased was 600.
is the number of new books purchased different from the total number of items purchases, should i not consider items equivalent to books.
Please help me understand this.


We are talking about a library. People check out books from it and then return them after a few days. The library's stock doesn't dwindle. Then the library may buy some new books which increases its stock. But it only rents out books.
The library gets a bonus if the total number of items checked out (and eventually returned) over the course of the year exceeds 5,000. The purchase of new books has nothing to do with this number. It just tells us the money the library spent in increasing its stock.
Intern
Intern
Joined: 17 Jul 2018
Posts: 6
Own Kudos [?]: 4 [1]
Given Kudos: 22
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
1
Kudos
What confuses me in this question is that statement 2 says - lowest no of items checked out in one month was 459

The statement does not mention that the lowest no of items necked out each month is 459 , so why are we multiplying it with 12 ?

Posted from my mobile device
Tutor
Joined: 16 Oct 2010
Posts: 15126
Own Kudos [?]: 66769 [3]
Given Kudos: 436
Location: Pune, India
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
2
Kudos
Expert Reply
Emma2511 wrote:
What confuses me in this question is that statement 2 says - lowest no of items checked out in one month was 459

The statement does not mention that the lowest no of items necked out each month is 459 , so why are we multiplying it with 12 ?

Posted from my mobile device



What is meant by "the lowest number of items checked out in one month is 459"?

It means the lowest value of "no of items checked out in a month" is 459
Say No. of items checked out in Jan = 500
No of items checked out in Feb = 567
No of items checked out in March = 459
No of items checked out in April = 489
and so on...

The minimum value of no of items checked out in a month is 459. In all other months, the number of items checked out were either equal to 459 or more than 459.

So the minimum number of items checked out in the whole year = 459 * 12 = 5508

The question tells us: the library also receives a bonus of $2,000 if the total number of items checked out over the course of the year exceeds 5,000

Since more than 5000 items were checked out in the year, the library would have got the bonus.
Tutor
Joined: 17 Jul 2019
Posts: 1304
Own Kudos [?]: 1747 [1]
Given Kudos: 66
Location: Canada
GMAT 1: 780 Q51 V45
GMAT 2: 780 Q50 V47
GMAT 3: 770 Q50 V45
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
1
Kudos
Expert Reply
Video solution from Quant Reasoning:
Subscribe for more: https://www.youtube.com/QuantReasoning? ... irmation=1
GMAT Club Legend
GMAT Club Legend
Joined: 08 Jul 2010
Status:GMAT/GRE Tutor l Admission Consultant l On-Demand Course creator
Posts: 6029
Own Kudos [?]: 13816 [0]
Given Kudos: 125
Location: India
GMAT: QUANT+DI EXPERT
Schools: IIM (A) ISB '24
GMAT 1: 750 Q51 V41
WE:Education (Education)
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
Expert Reply
AbdurRakib wrote:
For a certain city's library, the average cost of purchasing each new book is $28. The library receives $15,000 from the city each year,the library also receives a bonus of $2,000 if the total number of items checked out over the course of the year exceeds 5,000.Did the library receive the bonus last year ?

(1) The library purchased an average of 50 new books each month last year and received enough money from the city to cover this cost.

(2) The lowest number of items checked out in one month was 459 .


Solve the Official Questions more productively


Click here and solve 1000+ Official Questions with Video solutions as Timed Sectional Tests
and Dedicated Data Sufficiency (DS) Course


Answer: Option D

Video solution by GMATinsight



Get TOPICWISE: Concept Videos | Practice Qns 100+ | Official Qns 50+ | 100% Video solution CLICK.
Two MUST join YouTube channels : GMATinsight (1000+ FREE Videos) and GMATclub :)
Manager
Manager
Joined: 28 Sep 2021
Posts: 154
Own Kudos [?]: 50 [0]
Given Kudos: 259
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
VeritasKarishma wrote:
578vishnu wrote:
What put me off in this question was St 1. St 2 can be solved using worst case scenario method.

The question explicitly says that the bonus is given if the total number of items checked out over the course of the year exceeds 5,000.

1) In St1, we do not know whether the library received the bonus. What if the fund of 15,000 dollars was increased this year to cover the cost?

2) Also, since in question statement, the condition of providing bonus is explicitly mentioned, how can we just assume that the bonus was provided in St 1 without even knowing the number of items checked out?

chetan2u VeritasKarishma Bunuel ScottTargetTestPrep egmat

Please help!


As per stmnt 1, the total money spent on buying the books during the year = 50*12 *28 = 16,800
We are given that the library received enough money from the city to cover this cost. So it received at least $16,800 from the city. But the city gives only $15,000 per year (given in the question). A bonus is given only if more than 5000 books are checked out. Since the city gave $16,800, the city must have given the bonus 2000. So more than 5000 books must have been checked out.



This question ask us to call for some assumption. Whether bonus would be received last year or year before the last year is questionable. If statement 1 has to be true, we need to assume that at the start of last year, they would have received 15000$+ bonus to cover for the entire year expense for coming 12 months.

However if statement 2 has to be true, bonus could only be received this year (not last year), since we would come to know if checkout is more than 5000 Nos. ONLY after last month of Dec last year (and not in advance)

Thus either Statement 1 or statement 2 alone has to be true. If we are saying both are true, that means ,we are assuming last year, library received bonus twice.

Would request if you could shed light on this? Isn't this question ambiguous?
Tutor
Joined: 16 Oct 2010
Posts: 15126
Own Kudos [?]: 66769 [1]
Given Kudos: 436
Location: Pune, India
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
1
Kudos
Expert Reply
VIGHNESHKAMATH wrote:
VeritasKarishma wrote:
578vishnu wrote:
What put me off in this question was St 1. St 2 can be solved using worst case scenario method.

The question explicitly says that the bonus is given if the total number of items checked out over the course of the year exceeds 5,000.

1) In St1, we do not know whether the library received the bonus. What if the fund of 15,000 dollars was increased this year to cover the cost?

2) Also, since in question statement, the condition of providing bonus is explicitly mentioned, how can we just assume that the bonus was provided in St 1 without even knowing the number of items checked out?

chetan2u VeritasKarishma Bunuel ScottTargetTestPrep egmat

Please help!


As per stmnt 1, the total money spent on buying the books during the year = 50*12 *28 = 16,800
We are given that the library received enough money from the city to cover this cost. So it received at least $16,800 from the city. But the city gives only $15,000 per year (given in the question). A bonus is given only if more than 5000 books are checked out. Since the city gave $16,800, the city must have given the bonus 2000. So more than 5000 books must have been checked out.



This question ask us to call for some assumption. Whether bonus would be received last year or year before the last year is questionable. If statement 1 has to be true, we need to assume that at the start of last year, they would have received 15000$+ bonus to cover for the entire year expense for coming 12 months.

However if statement 2 has to be true, bonus could only be received this year (not last year), since we would come to know if checkout is more than 5000 Nos. ONLY after last month of Dec last year (and not in advance)

Thus either Statement 1 or statement 2 alone has to be true. If we are saying both are true, that means ,we are assuming last year, library received bonus twice.

Would request if you could shed light on this? Isn't this question ambiguous?


No, it is not necessary that books can be purchased only after the bonus is received. We are not given that.

(1) The library purchased an average of 50 new books each month last year and received enough money from the city to cover this cost.

We are given that the money received was enough to cover the cost of purchase. Was the purchase made using that money only, we don't know and we don't need to assume that it was. The library would have its own funds too and they could have easily purchased books using those. At the end of the year, they will find out whether the funds received that year were enough to cover their purchases or not. Also, things can easily be purchased on credit etc. Another possibility is that what if the 5000 number was reached in June itself and the bonus given at that time? There are lots of scenarios possible.

Also, whether the actual bonus payment happened in June last year or on 31st Dec last year or in Jan this year, doesn't matter. It will come as a receivable of last year.
Intern
Intern
Joined: 29 May 2020
Posts: 12
Own Kudos [?]: 3 [0]
Given Kudos: 80
Location: India
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
Hey,

KarishmaB

I'm quite confused with the solution here.

(b) states the lowest number of items checked out was 459.

But, the Q never stated that every month has got a certain number of books checked out. So, I'm thinking, probably out of 12 months, only in a few months, we might have seen the items checked out, in other months, it might be 0.
With this reasoning, the statement B is insufficient.

Please assist here.

Thank you!
Tutor
Joined: 16 Oct 2010
Posts: 15126
Own Kudos [?]: 66769 [2]
Given Kudos: 436
Location: Pune, India
Send PM
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
2
Kudos
Expert Reply
SJKC wrote:
Hey,

KarishmaB

I'm quite confused with the solution here.

(b) states the lowest number of items checked out was 459.

But, the Q never stated that every month has got a certain number of books checked out. So, I'm thinking, probably out of 12 months, only in a few months, we might have seen the items checked out, in other months, it might be 0.
With this reasoning, the statement B is insufficient.

Please assist here.

Thank you!


In that case the lowest number of items checked out would be 0, not 459. It is certainly mathematically acceptable to say that '0 items were checked out this month.' It is not necessary to have at leats 1 item checked out to use this phrase.
The lowest number of items checked out was 459 means every month at least 459 items were checked out.
GMAT Club Bot
Re: For a certain city's library, the average cost of purchasing each new [#permalink]
Moderator:
Math Expert
94441 posts