In Greenville last July, what was the average (arithmetic : GMAT Data Sufficiency (DS)
Check GMAT Club Decision Tracker for the Latest School Decision Releases https://gmatclub.com/AppTrack

 It is currently 01 Mar 2017, 11:41

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# In Greenville last July, what was the average (arithmetic

Author Message
TAGS:

### Hide Tags

Intern
Joined: 07 Jul 2012
Posts: 26
GMAT Date: 10-12-2012
Followers: 1

Kudos [?]: 30 [1] , given: 30

In Greenville last July, what was the average (arithmetic [#permalink]

### Show Tags

21 Sep 2012, 07:38
1
KUDOS
1
This post was
BOOKMARKED
00:00

Difficulty:

(N/A)

Question Stats:

93% (01:36) correct 7% (00:49) wrong based on 179 sessions

### HideShow timer Statistics

In Greenville last July, what was the average (arithmetic mean) home sale price?

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. (2) In Greenville last July, condominiums accounted for 60% of the home sales, and the average condominium price was$450,000.

[Reveal] Spoiler:

Last edited by Bunuel on 21 Sep 2012, 07:40, edited 1 time in total.
Renamed the topic and edited the question.
Intern
Joined: 07 Jul 2012
Posts: 26
GMAT Date: 10-12-2012
Followers: 1

Kudos [?]: 30 [0], given: 30

Re: In Greenville last July, what was the average (arithmetic [#permalink]

### Show Tags

29 Sep 2012, 20:32
Veritas Prep GMAT Instructor
Joined: 16 Oct 2010
Posts: 7198
Location: Pune, India
Followers: 2179

Kudos [?]: 14069 [0], given: 222

Re: In Greenville last July, what was the average (arithmetic [#permalink]

### Show Tags

30 Sep 2012, 22:21
rohitgarg wrote:
In Greenville last July, what was the average (arithmetic mean) home sale price?

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. (2) In Greenville last July, condominiums accounted for 60% of the home sales, and the average condominium price was$450,000.

[Reveal] Spoiler:

I think people can interpret it in different ways and hence arrive at different answers.

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. It is a little unclear whether only 100 homes were sold or the data is about 100 out of all the homes sold. _________________ Karishma Veritas Prep | GMAT Instructor My Blog Get started with Veritas Prep GMAT On Demand for$199

Veritas Prep Reviews

Intern
Joined: 26 Aug 2012
Posts: 12
GMAT 1: 710 Q48 V38
GPA: 3.01
WE: Analyst (Investment Banking)
Followers: 0

Kudos [?]: 12 [0], given: 147

Re: In Greenville last July, what was the average (arithmetic [#permalink]

### Show Tags

06 Oct 2012, 05:18
1
This post was
BOOKMARKED
rohitgarg wrote:
In Greenville last July, what was the average (arithmetic mean) home sale price?

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. (2) In Greenville last July, condominiums accounted for 60% of the home sales, and the average condominium price was$450,000.

[Reveal] Spoiler:

A looks like the answer. (If only 100 homes were sold)

1) 51mil/100 = Average of every house
SUFFICIENT

2) Taking weighted averages:
60(450000)+40(X)
------------------------- = Y
60+40
NOT SUFFICIENT

Can you please post the OAs from those two sources?
Director
Status: Gonna rock this time!!!
Joined: 22 Jul 2012
Posts: 547
Location: India
GMAT 1: 640 Q43 V34
GMAT 2: 630 Q47 V29
WE: Information Technology (Computer Software)
Followers: 3

Kudos [?]: 61 [0], given: 562

Re: In Greenville last July, what was the average (arithmetic [#permalink]

### Show Tags

21 Jan 2013, 07:48
how on earth would one know what a condominium is ..
_________________

hope is a good thing, maybe the best of things. And no good thing ever dies.

Who says you need a 700 ?Check this out : http://gmatclub.com/forum/who-says-you-need-a-149706.html#p1201595

My GMAT Journey : http://gmatclub.com/forum/end-of-my-gmat-journey-149328.html#p1197992

Senior Manager
Joined: 13 Aug 2012
Posts: 464
Concentration: Marketing, Finance
GMAT 1: Q V0
GPA: 3.23
Followers: 26

Kudos [?]: 445 [0], given: 11

Re: In Greenville last July, what was the average (arithmetic [#permalink]

### Show Tags

23 Jan 2013, 05:15
rohitgarg wrote:
In Greenville last July, what was the average (arithmetic mean) home sale price?

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. (2) In Greenville last July, condominiums accounted for 60% of the home sales, and the average condominium price was$450,000.

I think the wording of this question is unclear.

If 100 homes represent the total units inclusive of condominiums:
1. 51,000,000 / 100 will give us the answer. SUFFICIENT.
2. .6 (450,000) + .4P =? INSUFFICIENT.

If 100 homes represent part of the total only...
1. INSUFFICIENT.
2. .6 (450,000) + .4P =? INSUFFICIENT.

Together (1) and (2):
100 is .4x ==> x = 1000/4 = 250

$$= .6 (250) (450,000) + 51,000,000 / 250$$
which is SUFFICIENT

_________________

Impossible is nothing to God.

Intern
Joined: 29 Dec 2012
Posts: 18
Followers: 1

Kudos [?]: 11 [0], given: 32

Re: In Greenville last July, what was the average (arithmetic [#permalink]

### Show Tags

26 Jan 2013, 09:30
mbaiseasy wrote:
rohitgarg wrote:
In Greenville last July, what was the average (arithmetic mean) home sale price?

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. (2) In Greenville last July, condominiums accounted for 60% of the home sales, and the average condominium price was$450,000.

I think the wording of this question is unclear.

If 100 homes represent the total units inclusive of condominiums:
1. 51,000,000 / 100 will give us the answer. SUFFICIENT.
2. .6 (450,000) + .4P =? INSUFFICIENT.

If 100 homes represent part of the total only...
1. INSUFFICIENT.
2. .6 (450,000) + .4P =? INSUFFICIENT.

Together (1) and (2):
100 is .4x ==> x = 1000/4 = 250

$$= .6 (250) (450,000) + 51,000,000 / 250$$
which is SUFFICIENT

___________________________

1) total ammmount (51Mil)/no.of houses(100) = Average : Sufficent
2) 60%house hold = 450,000 from this we can find out 100% of house fold

Both are sufficient - D

Last edited by schittuluri on 27 Jan 2013, 14:01, edited 4 times in total.
Intern
Joined: 29 Dec 2012
Posts: 18
Followers: 1

Kudos [?]: 11 [0], given: 32

Re: In Greenville last July, what was the average (arithmetic [#permalink]

### Show Tags

26 Jan 2013, 09:30
mbaiseasy wrote:
rohitgarg wrote:
In Greenville last July, what was the average (arithmetic mean) home sale price?

(1) In Greenville last July, there were 100 homes sold for a total of $51 million. (2) In Greenville last July, condominiums accounted for 60% of the home sales, and the average condominium price was$450,000.

I think the wording of this question is unclear.

If 100 homes represent the total units inclusive of condominiums:
1. 51,000,000 / 100 will give us the answer. SUFFICIENT.
2. .6 (450,000) + .4P =? INSUFFICIENT.

If 100 homes represent part of the total only...
1. INSUFFICIENT.
2. .6 (450,000) + .4P =? INSUFFICIENT.

Together (1) and (2):
100 is .4x ==> x = 1000/4 = 250

$$= .6 (250) (450,000) + 51,000,000 / 250$$
which is SUFFICIENT

___________________________

1) total ammmount (51Mil)/no.of houses(100) = Average : Sufficent
2) 60%house hold = 450,000 from this we can find out 100% of house fold

Both are sufficient - D
Veritas Prep GMAT Instructor
Joined: 16 Oct 2010
Posts: 7198
Location: Pune, India
Followers: 2179

Kudos [?]: 14069 [1] , given: 222

Re: In Greenville last July, what was the average (arithmetic [#permalink]

### Show Tags

26 Jan 2013, 18:03
1
KUDOS
Expert's post
Sachin9 wrote:
how on earth would one know what a condominium is ..

If you come across words you are unfamiliar with, try to figure out the meaning from context.

Statement 2 says 'condominiums accounted for 60% of the home sales'. This means it is some kind of home since its sales figure was included in the home sales figure.

Also, GMAT questions don't use arcane words but you must try to familiarize yourself with the regular use words by reading more.
_________________

Karishma
Veritas Prep | GMAT Instructor
My Blog

Get started with Veritas Prep GMAT On Demand for $199 Veritas Prep Reviews Manager Joined: 14 Jun 2011 Posts: 85 Followers: 2 Kudos [?]: 34 [0], given: 15 Re: In Greenville last July, what was the average (arithmetic [#permalink] ### Show Tags 25 Aug 2013, 20:06 Quote: ___________________________ 1) total ammmount (51Mil)/no.of houses(100) = Average : Sufficent 2) 60%house hold = 450,000 from this we can find out 100% of house fold Both are sufficient - D Hi schittuluri, 60%house hold = 450,000 -not true The question says that the avg condominium price is$450,000 , not the total price.
So, 60%house hold = 450,000 * n (where n is the number of condominiums sold). Since we dont know the value of n. B is not sufficient
_________________

Kudos always encourages me

Senior Manager
Joined: 25 Mar 2013
Posts: 278
Location: United States
Concentration: Entrepreneurship, Marketing
GPA: 3.5
Followers: 3

Kudos [?]: 22 [0], given: 101

Re: In Greenville last July, what was the average (arithmetic [#permalink]

### Show Tags

08 Sep 2014, 20:57

Target Question: Avg cost , So we need total number of houses
1, Total 100 homes and cost given
Can find an Average
But Doubt, Average mean some Of individual cost of each home/100
Here Can we assume that each cost of home is same , Even the set of values might be small or big??

2, know avg cost of 60% houses , No idea about left 40% So Insufficient

Can any one explain Statement 1?
_________________

I welcome analysis on my posts and kudo +1 if helpful. It helps me to improve my craft.Thank you

Intern
Joined: 12 Apr 2013
Posts: 38
Concentration: Entrepreneurship, Strategy
Followers: 0

Kudos [?]: 24 [0], given: 20

Re: In Greenville last July, what was the average (arithmetic [#permalink]

### Show Tags

22 Apr 2015, 10:32

Average = Sum of home sales prices/Number of homes sold.

(a) Average home price is $51,000,000/100 =$510,000. But we are not sure how many homes were there overall (may be more than 100). So INSUFFICIENT

(b) From this statement, we don’t know anything about the other 40% of homes sold in Greenville, so we cannot calculate the average home sale price. INSUFFICIENT.

_________________

Commitment is about stretching your capabilities. It can take you across all obstacles!!

Re: In Greenville last July, what was the average (arithmetic   [#permalink] 22 Apr 2015, 10:32
Similar topics Replies Last post
Similar
Topics:
26 Last year the average (arithmetic mean) salary of the 10 11 16 Jul 2012, 03:51
12 In City X last April, was the average (arithmetic mean) 10 09 Jul 2012, 03:53
1 Last year the average (arithmetic mean) salary of the 10 6 05 Feb 2012, 08:58
5 In City X last April, was the average (arithmetic mean) 3 09 Jun 2010, 11:05
What is the average (arithmetic mean) of eleven consecutive 3 23 Dec 2007, 23:16
Display posts from previous: Sort by