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M70-34

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M70-34  [#permalink]

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New post 04 Sep 2018, 02:25
00:00
A
B
C
D
E

Difficulty:

  45% (medium)

Question Stats:

40% (01:52) correct 60% (00:52) wrong based on 5 sessions

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A used-car salesman bought a car for 70% of its retail price, and sold the same car for \(x\%\) of the retail price. What was his profit from selling the car, as a percentage of the retail price?



(1) The salesman sold the car for $350 more than what he bought it for.

(2) \(x=75\)

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Re M70-34  [#permalink]

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New post 04 Sep 2018, 02:25
Official Solution:


We’ll go for LOGICAL because that is our first choice in Data Sufficiency.

We are not actually asked what the profit is, but rather whether there is enough information to find the percentage of a greater number (the retail price) the profit equals to. (1) gives us the actual profit, but without knowing the retail price, we cannot translate this into a percentage. Insufficient. (A) and (D) are eliminated. (2) Subtracting 70% from \(x\), which we have just been given – 75, gives us exactly the profit as the percentage of the retail price. That’s enough! (C) and (E) are eliminated.


Answer: B
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Collection of Questions:
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Re: M70-34  [#permalink]

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New post 04 Sep 2018, 18:05
1
Bunuel wrote:
A used-car salesman bought a car for 70% of its retail price, and sold the same car for \(x\%\) of the retail price. What was his profit from selling the car, as a percentage of the retail price?



(1) The salesman sold the car for \(350 more than what he bought it for.

(2)\)x=75$


Hey Bunuel

What is x in statement 2)?

Question stem defines x % of retail price whereas in statement 2) above x is stated simply in $ units.

Posted from my mobile device
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It seems Kudos button not working correctly with all my posts...

Please check if it is working with this post......

is it?....

Anyways...Thanks for trying :cool:

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Re: M70-34  [#permalink]

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New post 04 Sep 2018, 20:52
Harshgmat wrote:
Bunuel wrote:
A used-car salesman bought a car for 70% of its retail price, and sold the same car for \(x\%\) of the retail price. What was his profit from selling the car, as a percentage of the retail price?



(1) The salesman sold the car for \(350 more than what he bought it for.

(2)\)x=75$


Hey Bunuel

What is x in statement 2)?

Question stem defines x % of retail price whereas in statement 2) above x is stated simply in $ units.

Posted from my mobile device


Formatting error. Edited. Thank you.
_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


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Re: M70-34 &nbs [#permalink] 04 Sep 2018, 20:52
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