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# Lana bought two lots last year and sold both of them

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VP
Joined: 22 Nov 2007
Posts: 1080
Lana bought two lots last year and sold both of them [#permalink]

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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.
Director
Joined: 14 Aug 2007
Posts: 727

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10 Mar 2008, 23:52
marcodonzelli wrote:
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.

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
Director
Joined: 05 Jan 2008
Posts: 688

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15 Mar 2008, 02:11
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
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Re: % gmtprep   [#permalink] 15 Mar 2008, 02:11
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