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If an item is purchased for x percent less than its retail

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If an item is purchased for x percent less than its retail [#permalink]

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31 Jan 2013, 22:43
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If an item is purchased $$x$$ percent less than its retail price, and then sold for $$y$$ percent less than its retail price, what was the retail price of the item?

(1) $$x - y = 10$$

(2) $$y = 5$$

Source: Gmat Hacks 1800
[Reveal] Spoiler: OA

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Last edited by megafan on 01 Feb 2013, 06:12, edited 1 time in total.
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Re: If an item is purchased for x percent less than its retail [#permalink]

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01 Feb 2013, 02:17
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Straight E... I dont see how either of the given statements could even cause an illusion of being sufficient.
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Re: If an item is purchased for x percent less than its retail [#permalink]

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04 Feb 2013, 20:53
megafan wrote:
If an item is purchased $$x$$ percent less than its retail price, and then sold for $$y$$ percent less than its retail price, what was the retail price of the item?

(1) $$x - y = 10$$

(2) $$y = 5$$

Source: Gmat Hacks 1800

Both statements together tell you this:
y = 5
x - y = 10 i.e. x = 15
So, an item is purchased for 15% less than its retail price, and then sold for 5% less than its retail price. What was the retail price of the item?

There is no information on actual cost. Only percentages are given. Hence both statements together are not sufficient.

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Re: If an item is purchased for x percent less than its retail [#permalink]

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30 May 2014, 03:48
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Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: If an item is purchased for x percent less than its retail   [#permalink] 30 May 2014, 03:48
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