Hi All,
This question is a measure of your Algebra skills and whether you recognize when you have enough "comparison" information to answer a given question or not.
We're told that $12,000 was spent (in total) on mortgage payments, real estate taxes and home insurance. We're asked for the total spent on real estate taxes.
First, let's set up an equation:
M = money spent on mortgage payments
R = money spent on real estate taxes
H = money spent on home insurance
M + R + H = 12,000 We are asked for the value of R.
Fact 1: The amounts spend on real estate and home insurance are 33% of what was spent on mortgage payments.
From this information, we can create 1 equation:
R + H = .33(M)
From this, we can solve for M by substituting in the value of (R+H)....
M + (.33M) = 12,0000
1.33M = 12,000
HOWEVER, we CANNOT get the value of R from this.
Fact 1 is INSUFFICIENT
Fact 2: The amount spent on real estate is 20% of the total spent on mortgage payments and home insurance.
Here, we can also create 1 equation:
R = .2(M + H)
5R = (M+H)
We can now substitute in the value of (M+H)
R + 5R = 12,000
6R = 12,0000
R = 2,000, so we have answered the question.
Fact 2 is SUFFICIENT.
Final Answer:
GMAT assassins aren't born, they're made,
Rich
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