February 17, 2019 February 17, 2019 07:00 AM PST 09:00 AM PST Attend this Free Algebra Webinar and learn how to master Inequalities and Absolute Value problems on GMAT. February 18, 2019 February 18, 2019 10:00 PM PST 11:00 PM PST We don’t care what your relationship status this year  we love you just the way you are. AND we want you to crush the GMAT!
Author 
Message 
Math Expert
Joined: 02 Sep 2009
Posts: 52911

Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
Show Tags
08 Feb 2019, 04:04
Question Stats:
29% (02:53) correct 71% (02:57) wrong based on 21 sessions
HideShow timer Statistics



SVP
Joined: 18 Aug 2017
Posts: 1775
Location: India
Concentration: Sustainability, Marketing
GPA: 4
WE: Marketing (Energy and Utilities)

Re: Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
Show Tags
Updated on: 08 Feb 2019, 23:43
Bunuel wrote: Marat sold his condo at a price that was 18% more than the price he paid for it. If he bought his condo at a price that was 42% less than the buyer’s $175,000 asking price, which of the following must be true?
I. The person who sold Marat the condo lost money. II. Marat bought the condo for $101,500. III. 36 percent of the price at which Marat sold the condo is $43,117.20.
A. I only B. I and II only C. I and III only D. II and III only E. I, II and III Marat bought the condo @ 58% discount rate of 175,000 $ = 101500 and sold @ 18% profit = 1.18 * 101500 = 119770 36% of 119770 = 43117.2 all three are correct IMO E Bunuel ; why is answer D , could you please provide official solution
_________________
If you liked my solution then please give Kudos. Kudos encourage active discussions.
Originally posted by Archit3110 on 08 Feb 2019, 04:41.
Last edited by Archit3110 on 08 Feb 2019, 23:43, edited 1 time in total.



Senior Manager
Joined: 17 Mar 2014
Posts: 438

Re: Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
Show Tags
08 Feb 2019, 05:36
IMO E but calculation took so much time.



Math Expert
Joined: 02 Sep 2009
Posts: 52911

Re: Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
Show Tags
08 Feb 2019, 23:50
Archit3110 wrote: Bunuel wrote: Marat sold his condo at a price that was 18% more than the price he paid for it. If he bought his condo at a price that was 42% less than the buyer’s $175,000 asking price, which of the following must be true?
I. The person who sold Marat the condo lost money. II. Marat bought the condo for $101,500. III. 36 percent of the price at which Marat sold the condo is $43,117.20.
A. I only B. I and II only C. I and III only D. II and III only E. I, II and III Marat bought the condo @ 58% discount rate of 175,000 $ = 101500 and sold @ 18% profit = 1.18 * 101500 = 119770 36% of 119770 = 43117.2 all three are correct IMO E Bunuel ; why is answer D , could you please provide official solution ______________ It's E. Edited.
_________________
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.
What are GMAT Club Tests? Extrahard Quant Tests with Brilliant Analytics



Manager
Joined: 21 Jul 2018
Posts: 136

Re: Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
Show Tags
09 Feb 2019, 06:43
Hi All, I didn't got that how The person who sold Marat the condo lost money? There is no information provided as in for how much person has bought condo who sold it to Marat. There is provided information that he sold it with discount but not necessary that he made a loss while providing discount.
_________________
______________________________ Press +1 Kudos if my post helped you a little and help me to ulcock the tests Wish you all success
I'd appreciate learning about the grammatical errors in my posts
Please let me know if I'm wrong somewhere



Intern
Joined: 05 May 2018
Posts: 7

Re: Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
Show Tags
09 Feb 2019, 07:11
Bunuel wrote: Marat sold his condo at a price that was 18% more than the price he paid for it. If he bought his condo at a price that was 42% less than the buyer’s $175,000 asking price, which of the following must be true?
I. The person who sold Marat the condo lost money. II. Marat bought the condo for $101,500. III. 36 percent of the price at which Marat sold the condo is $43,117.20.
A. I only B. I and II only C. I and III only D. II and III only E. I, II and III Hey, I'm just confused, how's the person selling his house to Marat being referred to as 'buyer' here?



Intern
Joined: 29 Dec 2018
Posts: 7

Re: Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
Show Tags
09 Feb 2019, 07:34
Point 1 says that the person who is selling the condo lost money. We don’t know at what price he was had bought it. We don’t know what the word lost stands for. Are we assuming that if the price paid is lower than the asking price then it’s said to be a loss? This point is not clear and hence 1 doesn’t seem to be true
Marat bought the condo @ 58% discount rate of 175,000 $ = 101500 and sold @ 18% profit = 1.18 * 101500 = 119770 36% of 119770 = 43117.2
Hence the answer must be D
Posted from my mobile device



SVP
Joined: 26 Mar 2013
Posts: 2063

Re: Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
Show Tags
10 Feb 2019, 02:01
Bunuel wrote: Marat sold his condo at a price that was 18% more than the price he paid for it. If he bought his condo at a price that was 42% less than the buyer’s $175,000 asking price, which of the following must be true?
I. The person who sold Marat the condo lost money. II. Marat bought the condo for $101,500. III. 36 percent of the price at which Marat sold the condo is $43,117.20.
A. I only B. I and II only C. I and III only D. II and III only E. I, II and III Hi Bunuel I do not understand the reasoning that I must be true . Where is the info that support that claim? Maybe the buyer got the condo with $50K. Maybe he got it with $150K. What do we now that he asks for certain price.



Director
Joined: 09 Mar 2018
Posts: 958
Location: India

Re: Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
Show Tags
10 Feb 2019, 02:33
Bunuel wrote: Marat sold his condo at a price that was 18% more than the price he paid for it. If he bought his condo at a price that was 42% less than the buyer’s $175,000 asking price, which of the following must be true?
I. The person who sold Marat the condo lost money. II. Marat bought the condo for $101,500. III. 36 percent of the price at which Marat sold the condo is $43,117.20.
A. I only B. I and II only C. I and III only D. II and III only E. I, II and III Actually all the data is given in the points itself Marat bought the condo for $101,500, this is = 175000  42/100*175000. You can use III to calculate, 18% more than the price he paid for it, they both will be same. I) buyer’s asking price = $175,000(given) Marat bought it at 42% less than that price Marat observed a gain, whereas buyer who became the seller for Marat lost out on money X bought a pen for 10$, sold it Y for 6$ Y became the buyer, whereas X became the seller The person(X) who sold Marat(Y) the pen obviously lost money. E
_________________
If you notice any discrepancy in my reasoning, please let me know. Lets improve together.
Quote which i can relate to. Many of life's failures happen with people who do not realize how close they were to success when they gave up.



Manager
Joined: 21 Jul 2018
Posts: 136

Re: Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
Show Tags
10 Feb 2019, 02:43
Hi KanishkM, From your explanation I am getting is that you are trying to say the person who sold Condo to Marat lost money as he sold for less than asking price correct? KanishkM wrote: Bunuel wrote: Marat sold his condo at a price that was 18% more than the price he paid for it. If he bought his condo at a price that was 42% less than the buyer’s $175,000 asking price, which of the following must be true?
I. The person who sold Marat the condo lost money. II. Marat bought the condo for $101,500. III. 36 percent of the price at which Marat sold the condo is $43,117.20.
A. I only B. I and II only C. I and III only D. II and III only E. I, II and III Actually all the data is given in the points itself Marat bought the condo for $101,500, this is = 175000  42/100*175000. You can use III to calculate, 18% more than the price he paid for it, they both will be same. I) buyer’s asking price = $175,000(given) Marat bought it at 42% less than that price Marat observed a gain, whereas buyer who became the seller for Marat lost out on money X bought a pen for 10$, sold it Y for 6$ Y became the buyer, whereas X became the seller The person(X) who sold Marat(Y) the pen obviously lost money. E
_________________
______________________________ Press +1 Kudos if my post helped you a little and help me to ulcock the tests Wish you all success
I'd appreciate learning about the grammatical errors in my posts
Please let me know if I'm wrong somewhere



Director
Joined: 09 Mar 2018
Posts: 958
Location: India

Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
Show Tags
10 Feb 2019, 02:47
Gmatprep550 wrote: Hi KanishkM, From your explanation I am getting is that you are trying to say the person who sold Condo to Marat lost money as he sold for less than asking price correct? Gmatprep550Yes you are correct. I just related with a real life scenario. I bought a house for 1200$, sold it you for 1100$, which you later sold for 1300$ So i attained a loss after selling my house at that price.
_________________
If you notice any discrepancy in my reasoning, please let me know. Lets improve together.
Quote which i can relate to. Many of life's failures happen with people who do not realize how close they were to success when they gave up.



Manager
Joined: 21 Jul 2018
Posts: 136

Re: Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
Show Tags
10 Feb 2019, 03:06
KanishkM wrote: Gmatprep550 wrote: Hi KanishkM, From your explanation I am getting is that you are trying to say the person who sold Condo to Marat lost money as he sold for less than asking price correct? Gmatprep550Yes you are correct. I just related with a real life scenario. I bought a house for 1200$, sold it you for 1100$, which you later sold for 1300$ So i attained a loss after selling my house at that price. I guess asking price means for what Marat offered to buy Condo and not the seller bought the property. Hi Bunuel could you please provide assistance in above scenario.
_________________
______________________________ Press +1 Kudos if my post helped you a little and help me to ulcock the tests Wish you all success
I'd appreciate learning about the grammatical errors in my posts
Please let me know if I'm wrong somewhere




Re: Marat sold his condo at a price that was 18% more than the price he pa
[#permalink]
10 Feb 2019, 03:06






