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M70-34

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Math Expert
Joined: 02 Sep 2009
Posts: 53063

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04 Sep 2018, 01:25
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Difficulty:

55% (hard)

Question Stats:

33% (01:52) correct 67% (01:36) wrong based on 6 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) $$x=75$$ _________________ Math Expert Joined: 02 Sep 2009 Posts: 53063 Re M70-34 [#permalink] Show Tags 04 Sep 2018, 01:25 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 _________________ Director Joined: 08 Jun 2013 Posts: 556 Location: France Schools: INSEAD Jan '19 GMAT 1: 200 Q1 V1 GPA: 3.82 WE: Consulting (Other) Re: M70-34 [#permalink] Show Tags 04 Sep 2018, 17:05 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 _________________ Everything will fall into place… There is perfect timing for everything and everyone. Never doubt, But Work on improving yourself, Keep the faith and Stay ready. When it’s finally your turn, It will all make sense. Math Expert Joined: 02 Sep 2009 Posts: 53063 Re: M70-34 [#permalink] Show Tags 04 Sep 2018, 19:52 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.
_________________
Re: M70-34   [#permalink] 04 Sep 2018, 19:52
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