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# If Matilda bought a 50 items for a total of \$50,000, what was the cost

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Math Expert
Joined: 02 Sep 2009
Posts: 59590
If Matilda bought a 50 items for a total of \$50,000, what was the cost  [#permalink]

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03 Sep 2017, 05:38
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Difficulty:

35% (medium)

Question Stats:

79% (01:26) correct 21% (02:15) wrong based on 28 sessions

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If Matilda bought a 50 items for a total of \$50,000, what was the cost of the least expensive item?

(1) The lowest priced item was 1/3 the cost of the highest priced item.
(2) The average (arithmetic mean) price paid was \$100.

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Concentration: Finance, General Management
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If Matilda bought a 50 items for a total of \$50,000, what was the cost  [#permalink]

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04 Sep 2017, 09:55
Bunuel wrote:
If Matilda bought a 50 items for a total of \$50,000, what was the cost of the least expensive item?

(1) The lowest priced item was 1/3 the cost of the highest priced item.
(2) The average (arithmetic mean) price paid was \$100.

Hi Bunuel,

Could you please check if the avg. price will be \$100 as per the statement 2 because from the question if we are solving for Avg. price it will be \$1000(Total cost*\$50000 Divided by total number of items(50))
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If Matilda bought a 50 items for a total of \$50,000, what was the cost  [#permalink]

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04 Sep 2017, 10:00
Bunuel wrote:
If Matilda bought a 50 items for a total of \$50,000, what was the cost of the least expensive item?

(1) The lowest priced item was 1/3 the cost of the highest priced item.
(2) The average (arithmetic mean) price paid was \$100.

Hi Bunuel

Kindly check this question. I think the average price must be \$1000(not 100\$).
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If Matilda bought a 50 items for a total of \$50,000, what was the cost   [#permalink] 04 Sep 2017, 10:00
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