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17 Oct 2019, 01:52
00:00

Difficulty:

35% (medium)

Question Stats:

75% (01:31) correct 25% (01:29) wrong based on 15 sessions

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Last year Charles spent $24,000 total on rare coins, stamps, and books. How much did he spend on rare stamps? (1) Last year, the amount that Charles spent on stamps and coins combined was five times the amount he spent on books. (2) Last year, the amount Charles spent on coins was three times the amount spent on stamps and books combined. _________________ Director Status: Manager Joined: 27 Oct 2018 Posts: 759 Location: Egypt Concentration: Strategy, International Business GPA: 3.67 WE: Pharmaceuticals (Health Care) Re: Last year Charles spent$24,000 total on rare coins, stamps, and books  [#permalink]

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17 Oct 2019, 05:36
from the given, $$c+s+b = 24000$$, s = ?

from statement (1), $$c+s = 5b$$,
then $$6b = 24000$$, and $$b = 4000$$
so $$c+s = 20000$$ ---> we can't know s alone (insufficient)

from statement (2), $$c = 3(s+b)$$,
then $$\frac{4}{3}c = 24000$$, and $$c = 18000$$
so $$s+b = 6000$$ -----> we can't know s alone (insufficient)

But from combining (1) and (2), $$s = 2000$$