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14 Mar 2017, 09:37
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D
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Difficulty:
5%
(low)
Question Stats:
93% (00:47) correct
7%
(00:43)
wrong
based on 194
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Mike bought a computer system for $4,000 and later sold it. For what price did Mike sell the computer system?
(1) Mike sold the computer system for 60% of the price he paid for it.
(2) Mike advertised the computer system in a newspaper at a price of $3,000, which was 25% more than the price for which he actually sold it.
(1) Mike sold the computer system for 60% of the price he paid for it.
(2) Mike advertised the computer system in a newspaper at a price of $3,000, which was 25% more than the price for which he actually sold it.
Updated on: 05 Apr 2020, 10:08
Originally posted by BrentGMATPrepNow on 14 Mar 2017, 12:21.
Last edited by BrentGMATPrepNow on 05 Apr 2020, 10:08, edited 1 time in total.
Last edited by BrentGMATPrepNow on 05 Apr 2020, 10:08, edited 1 time in total.
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SajjadAhmad
Target question: For what price did Mike sell the computer system?
Given: Mike bought a computer system for $4,000 and later sold it.
Statement 1: Mike sold the computer system for 60% of the price he paid for it.
Mike paid $4000.
So, his selling price = 60% of $4000 = $2400
Since we can answer the target question with certainty, statement 1 is SUFFICIENT
Statement 2: Mike advertised the computer system in a newspaper at a price of $3,000, which was 25% more than the price for which he actually sold it.
In other words, $3000 is 25% greater than the actual selling price
Or we can write: 3000 = (1.25)(selling price)
Divide both sides by 1.25 to get: selling price = $2400
Since we can answer the target question with certainty, statement 2 is SUFFICIENT
Answer: D
15 Mar 2017, 02:45
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St 1: selling price = 0.6 * 4000 = 2400. ANSWER
St 2: ad price = 1.25 selling price
or 3000 = 1.25 *selling price
therefore selling price = 3000/1,25 = 2400. ANSWER
option D
St 2: ad price = 1.25 selling price
or 3000 = 1.25 *selling price
therefore selling price = 3000/1,25 = 2400. ANSWER
option D
