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14 Mar 2020, 19:16
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GMATBusters’ Quant Quiz Question -4
The great garment company X was established in 1929. In 1929, company X’s profit was what percent of its revenue?
A) In 1929, company X’s profit was 1/3 of its expenses.
B) In 1929, company X’s expenses were 3/4 of its revenue.
14 Mar 2020, 19:48
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The great garment company X was established in 1929. In 1929, company X’s profit was what percent of its revenue?
Profit = S.P. - C.P.
Revenue = no. of units sold * price of unit
We need to determine the numerical value.
A) In 1929, company X’s profit was 1/3 of its expenses. No information about revenue determined. Insufficient.
B) In 1929, company X’s expenses were 3/4 of its revenue. No information about profit determined. Insufficient.
A) + B) Let's assume, the profit = 33.33, then expenses = 100 and revenue = 400/3=133.33. We will not get the unique numerical value. So, insufficient.
Imo. E
Profit = S.P. - C.P.
Revenue = no. of units sold * price of unit
We need to determine the numerical value.
A) In 1929, company X’s profit was 1/3 of its expenses. No information about revenue determined. Insufficient.
B) In 1929, company X’s expenses were 3/4 of its revenue. No information about profit determined. Insufficient.
A) + B) Let's assume, the profit = 33.33, then expenses = 100 and revenue = 400/3=133.33. We will not get the unique numerical value. So, insufficient.
Imo. E
14 Mar 2020, 20:22
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The great garment company X was established in 1929. In 1929, company X’s profit was what percent of its revenue?
A) In 1929, company X’s profit was 1/3 of its expenses.
B) In 1929, company X’s expenses were 3/4 of its revenue.
What we need:
Profit and Revenue of Company X in 1929.
We know that Profit = Revenue - Expenses. Let's see the answer choice
A) In 1929, company X’s profit was 1/3 of its expenses.
Lets substitute 300 for expenses , which gives 100 as profit.
Using the formula 100 = Revenue - 300.
Which gives Revenue = 400 and we can calculate Company's X profit was what percent of its revenue.
Option A alone is Sufficient.
B) In 1929, company X’s expenses were 3/4 of its revenue.
Expenses of the company X is 75% of its Revenue. So Profit = Revenue - Expenses. We get Profit = 100% - 75%. we can calculate Company's X profit was what percent of its revenue.
Option B alone is Sufficient
Ans: D
A) In 1929, company X’s profit was 1/3 of its expenses.
B) In 1929, company X’s expenses were 3/4 of its revenue.
What we need:
Profit and Revenue of Company X in 1929.
We know that Profit = Revenue - Expenses. Let's see the answer choice
A) In 1929, company X’s profit was 1/3 of its expenses.
Lets substitute 300 for expenses , which gives 100 as profit.
Using the formula 100 = Revenue - 300.
Which gives Revenue = 400 and we can calculate Company's X profit was what percent of its revenue.
Option A alone is Sufficient.
B) In 1929, company X’s expenses were 3/4 of its revenue.
Expenses of the company X is 75% of its Revenue. So Profit = Revenue - Expenses. We get Profit = 100% - 75%. we can calculate Company's X profit was what percent of its revenue.
Option B alone is Sufficient
Ans: D
