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# Mr Tolstoy bought 100 CDs at $x and sold them at$y. Did Mr

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Manager
Joined: 06 Apr 2010
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Mr Tolstoy bought 100 CDs at $x and sold them at$y. Did Mr [#permalink]

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31 Oct 2010, 06:19
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45% (medium)

Question Stats:

65% (01:19) correct 35% (01:18) wrong based on 96 sessions

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Mr Tolstoy bought 100 CDs at $x and sold them at$y. Did Mr Tolstoy profit from the deal?

(1) 40% of x > 30% of y
(2) 30% of x > 40% of y
[Reveal] Spoiler: OA

Kudos [?]: 895 [0], given: 15

Manager
Joined: 09 Jun 2010
Posts: 111

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Re: Profit of Mr Tolstoy [#permalink]

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31 Oct 2010, 08:41
Stmt 1 : .4X > .3 Y => X > (0.3/0.4)Y => X > .75 Y.
We can not conclude whether X>Y from this.
Consider X=Y=100 => no profit
Again if X = 200 & Y = 100 then there is a profit and the condition is satisfied.

Statement 1 insufficient.

Stmt 2 : .3X > .4Y => X > 1.33 Y, This clearly shows X > Y and shows that there is a profit.

Statement 2 sufficient.

Kudos [?]: 147 [0], given: 1

Math Expert
Joined: 02 Sep 2009
Posts: 41666

Kudos [?]: 124367 [0], given: 12077

Re: Profit of Mr Tolstoy [#permalink]

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31 Oct 2010, 08:49
udaymathapati wrote:
Mr Tolstoy bought 100 CDs at $x and sold them at$y. Did Mr Tolstoy profit from the deal?
1. 40% of x > 30% of y
2. 30% of x > 40% of y

Request bunuel to explain with detail. I am finding it difficult to decipher the explaination given belw.

stmt1> we get, x>0.75. Thus, x=0.8y>0.75y, which case y>x and Mr Tolstoy made a profit or x=2y >0.75y, in which case, he did not make profit. Thus we can't conclude whether he made a profit or not.

Question asks is $$100y>100x$$? or is $$y>x$$? or is $$\frac{y}{x}>1$$?

(1) $$0.4x>0.3y$$ --> $$\frac{y}{x}<\frac{4}{3}={1\frac{1}{3}}$$. So we can not be sure whether $$\frac{y}{x}>1$$. Not sufficient.

(2) $$0.3x>0.4y$$ --> $$\frac{y}{x}<\frac{3}{4}<1$$. So the answer to the question "is $$\frac{y}{x}>1$$" is NO. Sufficient.

Hope it's clear.
_________________

Kudos [?]: 124367 [0], given: 12077

Intern
Joined: 02 Sep 2010
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Kudos [?]: 63 [0], given: 16

Re: Profit of Mr Tolstoy [#permalink]

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05 Dec 2010, 08:20
Bunuel wrote:
udaymathapati wrote:
Mr Tolstoy bought 100 CDs at $x and sold them at$y. Did Mr Tolstoy profit from the deal?
1. 40% of x > 30% of y
2. 30% of x > 40% of y

Request bunuel to explain with detail. I am finding it difficult to decipher the explaination given belw.

stmt1> we get, x>0.75. Thus, x=0.8y>0.75y, which case y>x and Mr Tolstoy made a profit or x=2y >0.75y, in which case, he did not make profit. Thus we can't conclude whether he made a profit or not.

Question asks is $$100y>100x$$? or is $$y>x$$? or is $$\frac{y}{x}>1$$?

(1) $$0.4x>0.3y$$ --> $$\frac{y}{x}<\frac{4}{3}$$. So we can not be sure whether $$\frac{y}{x}>1$$. Not sufficient.

(2) $$0.3x>0.4y$$ --> $$\frac{y}{x}<\frac{3}{4}<1$$. So the answer to the question "is $$\frac{y}{x}>1$$" is NO. Sufficient.

Hope it's clear.

Can we plug in numbers ..I find that easy and less confusing ..If you can explain by plugging in numbers it will be helpful ...

Kudos [?]: 63 [0], given: 16

Manager
Joined: 30 Aug 2010
Posts: 91

Kudos [?]: 186 [0], given: 27

Location: Bangalore, India
Re: Profit of Mr Tolstoy [#permalink]

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06 Dec 2010, 03:46
rite2deepti wrote:
Bunuel wrote:
udaymathapati wrote:
Mr Tolstoy bought 100 CDs at $x and sold them at$y. Did Mr Tolstoy profit from the deal?
1. 40% of x > 30% of y
2. 30% of x > 40% of y

Request bunuel to explain with detail. I am finding it difficult to decipher the explaination given belw.

stmt1> we get, x>0.75. Thus, x=0.8y>0.75y, which case y>x and Mr Tolstoy made a profit or x=2y >0.75y, in which case, he did not make profit. Thus we can't conclude whether he made a profit or not.

Question asks is $$100y>100x$$? or is $$y>x$$? or is $$\frac{y}{x}>1$$?

(1) $$0.4x>0.3y$$ --> $$\frac{y}{x}<\frac{4}{3}$$. So we can not be sure whether $$\frac{y}{x}>1$$. Not sufficient.

(2) $$0.3x>0.4y$$ --> $$\frac{y}{x}<\frac{3}{4}<1$$. So the answer to the question "is $$\frac{y}{x}>1$$" is NO. Sufficient.

Hope it's clear.

Can we plug in numbers ..I find that easy and less confusing ..If you can explain by plugging in numbers it will be helpful ...

Deepti ,

I would like to suggest u in this regard,

GMAT testmakers never expect the testtakers to plug in the #s and find out the answer. They prepare the questions in such a way that finding the answer for them by using the logic would be much more easier and effective than by plugging-in the #s.

TRY TO FIND THE TESTMAKER'S (QUESTION MAKER'S) LOGIC BEHIND THE QUESTION. ---As Bunuel did. This comes with the practice.

Anybody can correct me if i am wrong.

To the original question:

Question asks is x>y (loss) or y>x (Profit)
stmnt1: 4x>3y ==> x/y > 3/4 (Note that x and y must be +ve #s as these are selling/buying prices, and hence can safely be corssmultiplied)
==> hence x/y may/may not be > 1 (i.e 4/4) NOT SUFF.

stmnt2: 3x>4y ==> x/y > 4/3 ==> x/y shud be > 1 (i.e. 3/3) ==> x SHUD be > y ==> he got a "loss"
SUFF.

Regards,
Murali.
Kudos.

Kudos [?]: 186 [0], given: 27

Manager
Status: I rest, I rust.
Joined: 04 Oct 2010
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Schools: ISB - Co 2013
WE 1: IT Professional since 2006
Re: Profit of Mr Tolstoy [#permalink]

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06 Dec 2010, 21:26
udaymathapati wrote:
Mr Tolstoy bought 100 CDs at $x and sold them at$y. Did Mr Tolstoy profit from the deal?
1. 40% of x > 30% of y
2. 30% of x > 40% of y

Request bunuel to explain with detail. I am finding it difficult to decipher the explaination given belw.

stmt1> we get, x>0.75. Thus, x=0.8y>0.75y, which case y>x and Mr Tolstoy made a profit or x=2y >0.75y, in which case, he did not make profit. Thus we can't conclude whether he made a profit or not.

Mr. T would make a profit if $$X<Y$$ or $$\frac{X}{Y} < 1$$,
Mr. T would incur a loss if $$X>Y$$ or $$\frac{X}{Y} > 1$$.

S1: 40% of x > 30% of y, so $$4X > 3Y$$ or $$\frac{X}{Y} > \frac{3}{4}$$, but is it greater than 1? we dont know. Not sufficient.
S2: 30% of x > 40% of y, so $$3X > 4Y$$ or $$\frac{X}{Y} > \frac{4}{3}$$, which is clearly greater than 1. So Mr. T incurred a loss. Sufficient

_________________

Respect,
Vaibhav

PS: Correct me if I am wrong.

Kudos [?]: 125 [0], given: 9

Re: Profit of Mr Tolstoy   [#permalink] 06 Dec 2010, 21:26
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