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19 Dec 2019, 04:56
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D
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Difficulty:
15%
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Question Stats:
79% (01:24) correct
21%
(01:56)
wrong
based on 2738
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In 1980, a Danish ten-øre coin minted in 1747 was sold at auction for $8,000. Eleanor Bixby owns another Danish ten-øre coin minted in 1747. When she puts it on the market next week, it will fetch a price over $18,000.
Which of the following, if true, would most weaken the conclusion drawn above?
(A) Since 1980, the average price for rare coins has increased by over 150 percent.
(B) There are only four coins like the one in question in the entire world.
(C) Since 1980, the consumer price index has risen by over 150 percent.
(D) In 1986, a previously unknown cache of one hundred coins just like the one in question was found.
(E) Thirty prominent, wealthy coin collectors are expected to bid for Bixby’s coin.
Which of the following, if true, would most weaken the conclusion drawn above?
(A) Since 1980, the average price for rare coins has increased by over 150 percent.
(B) There are only four coins like the one in question in the entire world.
(C) Since 1980, the consumer price index has risen by over 150 percent.
(D) In 1986, a previously unknown cache of one hundred coins just like the one in question was found.
(E) Thirty prominent, wealthy coin collectors are expected to bid for Bixby’s coin.
25 May 2020, 06:12
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Bunuel
1980 - a coin was sold for 8k (past)
EB owns another such coin (present, 2020). It will fetch her 18k next week (one week from now).
We need to weaken that the coin will fetch 18k next week.
(A) Since 1980, the average price for rare coins has increased by over 150 percent.
Since 1980 to now, the price has increased by over 150%. So then it makes sense that the coin will cost 18k.
(B) There are only four coins like the one in question in the entire world.
Makes it likely that the coin will fetch a lot of money since there are only 4 such coins.
(C) Since 1980, the consumer price index has risen by over 150 percent.
Again, this means that the cost of things has increased by over 150%. So likely that the coin will fetch more than 18k.
(D) In 1986, a previously unknown cache of one hundred coins just like the one in question was found.
In 1986, many such coins were found. So it means now such coins are not rare. Then it is likely that it will not fetch a lot of money. Hence it weakens our conclusion.
(E) Thirty prominent, wealthy coin collectors are expected to bid for Bixby’s coin.
Irrelevant
Answer (D)
General Discussion
DinoPen
Joined: 02 Jul 2019
Last visit: 09 Jun 2023
Posts: 256
Given Kudos: 200
Location: United States
Concentration: Finance, Strategy
Schools: CBS '25 (A) Booth '25 (II) Fuqua '25 (I) Wharton '25 (II) Kellogg '25 (I) HBS '25 (D) Sloan '25 (WL) Cornell '25 (II) Darden '25 (WL)
GMAT 1: 630 Q48 V28
GMAT 2: 640 Q48 V28
Products:
Schools: CBS '25 (A) Booth '25 (II) Fuqua '25 (I) Wharton '25 (II) Kellogg '25 (I) HBS '25 (D) Sloan '25 (WL) Cornell '25 (II) Darden '25 (WL)
GMAT 2: 640 Q48 V28
Posts: 256
19 Dec 2019, 14:57
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Bunuel
I said C.
My notes:
1747: ore sold for 8,000
Ore put on market for next week: sell for 18,000?
I eliminated A because this information is irrelevant
B strengthens the argument due to rarity
D has irrelevant information
E strengthens the the argument due to supply and demand.
I said C because there the increase in consumer price index grew 150% from 1747 to 1980. This increase is quite small and this rate of growth is nowhere near compared to (18000 - 8000 )/ 8000 in less than a week.
