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20 Jun 2006, 10:13
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N
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
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PS - I have slightly modified the question to prevent a verbatim copy of the problem, but rest assured the end result will remain exactly the same.
Please tell me what you think is the answer to this question is, and your rationale, before I give the OA.
"In the beginning of 2001, a SONY TV dealership had 200 TV in stock, which the dealership had previously purchased from SONY at 450$ per TV. During the same year, the dealership made only one more purchase of TVs. What is the total amount spent by the dealership on the TVs it had in stock by the end of 2001?"
(1) In 2001, the dealer purchased 50 TV at 500$ per TV
(2) The total revenue in 2001 from sale of TVs was 95,000$
Please tell me what you think is the answer to this question is, and your rationale, before I give the OA.
"In the beginning of 2001, a SONY TV dealership had 200 TV in stock, which the dealership had previously purchased from SONY at 450$ per TV. During the same year, the dealership made only one more purchase of TVs. What is the total amount spent by the dealership on the TVs it had in stock by the end of 2001?"
(1) In 2001, the dealer purchased 50 TV at 500$ per TV
(2) The total revenue in 2001 from sale of TVs was 95,000$
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20 Jun 2006, 10:32
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necromonger
Required:
Amount spent on TVs in stock
= # of TVs in stock x Average buying price
(1) Bought 50 more @ $500
Can compute Average price, but no idea of the sale
Not sufficient
(2) Total sale = $95000.
No idea of average price for the additional purchase made in 2001. Not sufficient.
(1) & (2)
(1) gives average price
(2) gives total sales.
Total amount spent = 250 x average price
To compute total number in stock need selling price to compute number of units sold.
Not sufficient.
Answer: E
Alright paddyboy, you convinced me. I see it now! DUH!
