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04 Sep 2018, 02:25
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B
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Difficulty:
45%
(medium)
Question Stats:
65% (01:34) correct
35%
(01:38)
wrong
based on 31
sessions
History
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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) \(x=75\)
(1) The salesman sold the car for $350 more than what he bought it for.
(2) \(x=75\)
04 Sep 2018, 02:25
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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
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
04 Sep 2018, 18:05
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Bunuel
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.
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