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10 Mar 2008, 23:24
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Lana bought two lots last year and sold both of them yesterday. If the selling
price of lot B was twice that of lot A, did Lana make a profit on the sale of
these two lots?
(1) Lana sold lot A for 20% more than its purchase price.
(2) Lana sold lot B for more than 90% of its purchase price.
price of lot B was twice that of lot A, did Lana make a profit on the sale of
these two lots?
(1) Lana sold lot A for 20% more than its purchase price.
(2) Lana sold lot B for more than 90% of its purchase price.
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10 Mar 2008, 23:52
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marcodonzelli
From Q we know that
B = 2A : Selling prices
(1) tells that if PA is purchase price of A, she got (PA + PA*.2).
This indicated the profit, but only for A.
B = 2 (PA + 0.2PA) , but we dont know what purchase price of B.
so insuff
(2) This says that B > 0.9 * PB, even if she sells for 100%, there is no profit on B's sell
combined,
we end up with say PB = 2.4PA, which is insuff,
Ans should be E
15 Mar 2008, 02:11
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Stmt 1 gives only the profit % of A and thus it is insufficient
Stmt 2 says more than 90 % it could be loss or profit(if > 100%) thus insufficient
thus 1&2 put together insufficient
thus E
Stmt 2 says more than 90 % it could be loss or profit(if > 100%) thus insufficient
thus 1&2 put together insufficient
thus E
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Quantitative Questions Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
