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# If a shopkeeper purchased an item at a cost of x dollars and sold it

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Math Expert
Joined: 02 Sep 2009
Posts: 53066
If a shopkeeper purchased an item at a cost of x dollars and sold it  [#permalink]

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16 Oct 2018, 00:54
00:00

Difficulty:

35% (medium)

Question Stats:

81% (01:15) correct 19% (01:43) wrong based on 35 sessions

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If a shopkeeper purchased an item at a cost of x dollars and sold it for y dollars, by what percent of its cost did he make profit?

(1) y − x = 60
(2) 5y = 6x

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examPAL Representative
Joined: 07 Dec 2017
Posts: 890
Re: If a shopkeeper purchased an item at a cost of x dollars and sold it  [#permalink]

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16 Oct 2018, 01:05
Bunuel wrote:
If a shopkeeper purchased an item at a cost of x dollars and sold it for y dollars, by what percent of its cost did he make profit?

(1) y − x = 60
(2) 5y = 6x

As we're asked for the percent, all we need is the ratio of (y-x) to x. Note that this is the same as the ratio of y to x (because (y-x)/x = y/x - x/x = y/x - 1)
We'll look for statements that give us this information, a Logical approach.

(1) This does not give us the ratio we need and is therefore insufficient. (For example, try x = 60 vs. x = 30)
Insufficient.

(2) This gives us y/x, exactly what we need!
Sufficient.

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Re: If a shopkeeper purchased an item at a cost of x dollars and sold it   [#permalink] 16 Oct 2018, 01:05
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