GMAT Question of the Day - Daily to your Mailbox; hard ones only

 It is currently 17 Feb 2019, 08:47

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

## Events & Promotions

###### Events & Promotions in February
PrevNext
SuMoTuWeThFrSa
272829303112
3456789
10111213141516
17181920212223
242526272812
Open Detailed Calendar
• ### Free GMAT Algebra Webinar

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.
• ### Valentine's day SALE is on! 25% off.

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!

# Marat sold his condo at a price that was 18% more than the price he pa

 new topic post reply Question banks Downloads My Bookmarks Reviews Important topics
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
00:00

Difficulty:

75% (hard)

Question Stats:

29% (02:53) correct 71% (02:57) wrong based on 21 sessions

### HideShow timer Statistics

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

_________________
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
1
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.
_________________
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.

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.

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?

Gmatprep550

Yes 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?

Gmatprep550

Yes 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
Display posts from previous: Sort by

# Marat sold his condo at a price that was 18% more than the price he pa

 new topic post reply Question banks Downloads My Bookmarks Reviews Important topics

 Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.