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For a certain store last month, the ratio of earnings to expenses was 7:5. What was the amount of the store's earnings last month?
(1) The difference between the store's earnings and its expenses last month was $60,000.
(2) The store's expenses last month totaled $150,000.
(1) The difference between the store's earnings and its expenses last month was $60,000.
(2) The store's expenses last month totaled $150,000.
12 Jan 2024, 09:35
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AnkurGMAT20
For a certain store last month, the ratio of earnings to expenses was 7:5. What was the amount of the store's earnings last month?
(1) The difference between the store's earnings and its expenses last month was $60,000.
(2) The store's expenses last month totaled $150,000.
(1) The difference between the store's earnings and its expenses last month was $60,000.
(2) The store's expenses last month totaled $150,000.
Evaluating the question.
Sales is 7x and cost is 5x, hence profit is 2x
Profit is the difference between sales and cost
St1. The profit is 60000
Hence x is 30000
7x is 210,
St2. The cost is not 150000
5x equals 150000
x is 30000
7x equals 210,
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12 Jan 2024, 09:40
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For a certain store last month, the ratio of earnings to expenses was 7:5. What was the amount of the store's earnings last month?
Given that the ratio of earnings to expenses was 7x:5x, for some positive multiple x, we need to find the value of the store's earnings, which would be 7x.
(1) The difference between the store's earnings and its expenses last month was $60,000.
The above implies that 7x - 5x = 60,000. From this we can find x, and hence the value of 7x. Sufficient.
(2) The store's expenses last month totaled $150,000.
The above implies that 5x = 150,000. From this we can find x, and hence the value of 7x. Sufficient.
Answer: D.
Given that the ratio of earnings to expenses was 7x:5x, for some positive multiple x, we need to find the value of the store's earnings, which would be 7x.
(1) The difference between the store's earnings and its expenses last month was $60,000.
The above implies that 7x - 5x = 60,000. From this we can find x, and hence the value of 7x. Sufficient.
(2) The store's expenses last month totaled $150,000.
The above implies that 5x = 150,000. From this we can find x, and hence the value of 7x. Sufficient.
Answer: D.
