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13 Feb 2021, 09:22
Kudos
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C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
93% (01:07) correct
7%
(00:41)
wrong
based on 81
sessions
History
Date
Time
Result
Not Attempted Yet
How much revenue did an author receive from the sale of 2000 books, some of which were sold at full price and the remainder of which were sold at half price?
(1) Four times as many books were sold at full price as were sold at half price.
(2) The full price of a book was $10.
(1) Four times as many books were sold at full price as were sold at half price.
(2) The full price of a book was $10.
15 Feb 2021, 05:07
Kudos
Bookmarks
To answer this, we require (a) either the number of books sold at full price or half price and (b) the value of full price or the half price.
If a is the books sold at full price b, then the revenue will be a*b + (2000 - a) * b/2
Statement 1:: Four times as many books were sold at full price as were sold at half price.
From this we can find the number of books sold at full and half the price.
If x = number of books sold at half price, then 4x is the number of books sold at full price.
Then 4x + x = 2000 and x = 400
Therefore Statement 1 Alone is Insufficient. Answer options could be B, C or E
Statement 2: The full price of a book was $10.
From this we cannot get the number of books sold at half or full price
Therefore Statement 2 Alone is Insufficient. Answer Options could be C or E
Combining Both Statements:
Number of books sold at full price $10 is 1600 and number of books sold at half price $5 is 400, with which we can find the revenue.
Therefore Both Statements together are Sufficient.
Option C
Arun Kumar
If a is the books sold at full price b, then the revenue will be a*b + (2000 - a) * b/2
Statement 1:: Four times as many books were sold at full price as were sold at half price.
From this we can find the number of books sold at full and half the price.
If x = number of books sold at half price, then 4x is the number of books sold at full price.
Then 4x + x = 2000 and x = 400
Therefore Statement 1 Alone is Insufficient. Answer options could be B, C or E
Statement 2: The full price of a book was $10.
From this we cannot get the number of books sold at half or full price
Therefore Statement 2 Alone is Insufficient. Answer Options could be C or E
Combining Both Statements:
Number of books sold at full price $10 is 1600 and number of books sold at half price $5 is 400, with which we can find the revenue.
Therefore Both Statements together are Sufficient.
Option C
Arun Kumar
22 Feb 2021, 08:15
Kudos
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Bunuel
VERITAS PREP OFFICIAL SOLUTION
Solution: C
In order to find total revenue, we need two pieces of information: the number of books sold at each price, and one of the prices (from which we can derive the other). Statement 2 is easier to start with. It gives us the full price of $10, so we know that half-price is $5. However, we don’t know how many books were sold at each price, so we can’t find total revenue. Eliminate B and D. Statement 1 tells us that we had 4x full-price books and 1x half-price books. Since we have a total of 2000 books, this means that we have 1600 full-price books and 400 half-price books. Without knowing the prices, though, we can’t find revenue. Eliminate A. With the combined information, we have filled in both gaps in our knowledge, and we can solve. Choice C is correct.
