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If a public distribution company loses 5 percent of its monthly allotm

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If a public distribution company loses 5 percent of its monthly allotm  [#permalink]

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New post 24 Oct 2018, 00:42
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A
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C
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  15% (low)

Question Stats:

83% (00:56) correct 18% (01:00) wrong based on 45 sessions

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If a public distribution company loses 5 percent of its monthly allotment of wheat in a month because of wastage, pilferage and theft, what is the cost in dollars to the company per month for this loss?

(1) The company’s monthly wheat allotment is 400 million tons.
(2) The cost to the company for each 10,000 tons of wheat loss is $5

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Re: If a public distribution company loses 5 percent of its monthly allotm  [#permalink]

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New post 24 Oct 2018, 02:17
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Bunuel wrote:
If a public distribution company loses 5 percent of its monthly allotment of wheat in a month because of wastage, pilferage and theft, what is the cost in dollars to the company per month for this loss?

(1) The company’s monthly wheat allotment is 400 million tons.
(2) The cost to the company for each 10,000 tons of wheat loss is $5


Question: Cost of loss per month = ?

Statement 1: The company’s monthly wheat allotment is 400 million tons.

The cost per ton is not known hence

NOT SUFFICIENT

Statement 2: The cost to the company for each 10,000 tons of wheat loss is $5

We have no idea about how many tons 5% represents hence

NOT SUFFICIENT

Combining the two statements

for 10000 tons, loss = $5
for 400*1000000 tons, loss = 5*40000 = $200000

SUFFICIENT

Answer: Option C
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Re: If a public distribution company loses 5 percent of its monthly allotm  [#permalink]

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New post 26 Oct 2018, 12:19
GMATinsight wrote:
Bunuel wrote:
If a public distribution company loses 5 percent of its monthly allotment of wheat in a month because of wastage, pilferage and theft, what is the cost in dollars to the company per month for this loss?

(1) The company’s monthly wheat allotment is 400 million tons.
(2) The cost to the company for each 10,000 tons of wheat loss is $5


Question: Cost of loss per month = ?

Statement 1: The company’s monthly wheat allotment is 400 million tons.

The cost per ton is not known hence

NOT SUFFICIENT

Statement 2: The cost to the company for each 10,000 tons of wheat loss is $5

We have no idea about how many tons 5% represents hence

NOT SUFFICIENT

Combining the two statements

for 10000 tons, loss = $5
for 400*1000000 tons, loss = 5*40000 = $200000

SUFFICIENT

Answer: Option C



shouldn't we calculate 5% of 400 million tonnes and then find the cost of this according to the option 2
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If a public distribution company loses 5 percent of its monthly allotm  [#permalink]

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New post 26 Oct 2018, 17:59
1
Bunuel wrote:
If a public distribution company loses 5 percent of its monthly allotment of wheat in a month because of wastage, pilferage and theft, what is the cost in dollars to the company per month for this loss?

(1) The company’s monthly wheat allotment is 400 million tons.
(2) The cost to the company for each 10,000 tons of wheat loss is $5


Time needed: 30s

Datas:
a)5% of the value is lost

What I need:
I)total value OR value/quantity.

Process of Elimination:
1)We are given the quantity. Not sufficient. Eliminate A,D
2)We are given the value of the loss, but no quantity. Not sufficient. Eliminate B
1+2) We have the total value of the loss and the quantity. Sufficient. Eliminate E

Correct answer: C

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If a public distribution company loses 5 percent of its monthly allotm   [#permalink] 26 Oct 2018, 17:59
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