Events & Promotions
|
|
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
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Jun 1903:00 AM PDT
-11:00 PM PDT
The Target Test Prep GMAT Flash Sale is LIVE! Get 25% off our game-changing course and save up to $450 today! Use code FLASH25 at checkout. This limited-time deal won’t last long, so grab your discount now!- Jun 19
03:00 AM PDT
-11:00 PM PDT
Get a massive $325 off the TTP OnDemand GMAT masterclass by using the coupon code FLASH25 at checkout. If you prefer learning through engaging video lessons, TTP OnDemand GMAT is exactly what you need. - Jun 20
10:00 AM PDT
-11:00 AM PDT
Class is officially in session! Join Charles Bibilos from GMAT Ninja and GMAC’s own Jaime Malatesta, Senior Psychometrician, as they simplify some of the complexities of GMAT scoring. 
Jun 2211:30 AM EDT
-12:30 PM EDT
Learn how Keshav, a Chartered Accountant, scored an impressive 705 on GMAT in just 30 days with GMATWhiz's expert guidance. In this video, he shares preparation tips and strategies that worked for him, including the mock, time management, and more.
Jun 2308:00 PM PDT
-09:00 PM PDT
Full-length FE mock with insightful analytics, weakness diagnosis, and video explanations!
Jun 2811:00 AM IST
-01:00 PM IST
Attend this session to learn how to Deconstruct arguments, Pre-Think Author’s Assumptions, and apply Negation Test.- Jun 30
08:00 AM PDT
-11:59 PM PDT
Join us June 30th for 2 weeks of GMAT questions (just 8 per day) to help with your prep and to compete with your fellow GMAT Clubbers for a chance to win a prize fund of $30,000 for you and your team-mates!
16 Apr 2020, 05:19
Kudos
Bookmarks
A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
70% (02:22) correct
30%
(02:33)
wrong
based on 497
sessions
History
Date
Time
Result
Not Attempted Yet
Numismatist: In medieval Spain, most gold coins were minted from gold mined in West Africa, in the area that is now Senegal. The gold mined in this region was the purest known. Its gold content of 92 percent allowed coins to be minted without refining the gold, and indeed coins minted from this source of gold can be recognized because they have that gold content. The mints could refine gold and produced other kinds of coins that had much purer gold content, but the Senegalese gold was never refined.
As a preliminary to negotiating prices, merchants selling goods often specified that payment should be in the coins minted from Senegalese gold. Which one of the following, if true, most helps to explain this preference?
(A) Because refined gold varied considerably in purity, specifying a price as a number of refined-gold coins did not fix the quantity of gold received in payment.
(B) During this period most day-to-day trading was conducted using silver coins, though gold coins were used for costly transactions and long-distance commerce.
(C) The mints were able to determine the purity, and hence the value, of gold coins by measuring their density.
(D) Since gold coins’ monetary value rested on the gold they contained, payments were frequently made using coins minted in several different countries.
(E) Merchants obtaining gold to resell for use in jewelry could not sell the metal unless it was first refined.
As a preliminary to negotiating prices, merchants selling goods often specified that payment should be in the coins minted from Senegalese gold. Which one of the following, if true, most helps to explain this preference?
(A) Because refined gold varied considerably in purity, specifying a price as a number of refined-gold coins did not fix the quantity of gold received in payment.
(B) During this period most day-to-day trading was conducted using silver coins, though gold coins were used for costly transactions and long-distance commerce.
(C) The mints were able to determine the purity, and hence the value, of gold coins by measuring their density.
(D) Since gold coins’ monetary value rested on the gold they contained, payments were frequently made using coins minted in several different countries.
(E) Merchants obtaining gold to resell for use in jewelry could not sell the metal unless it was first refined.
yashikaaggarwal
Senior Moderator - Masters Forum
Joined: 19 Jan 2020
Last visit: 22 Jun 2025
Posts: 3,095
Given Kudos: 1,510
Location: India
Schools: Cranfield (A) Warwick MiM "23 (M)
GPA: 4
WE:Analyst (Internet and New Media)
16 Apr 2020, 05:28
Kudos
Bookmarks
Answer is considerably A,
Because of the refined gold varied considerably in purity, specifying a price as a number of refined-gold coins did not fix the quantity of gold received in payment.
The merchants demand coins minted by Senegalese Gold.
Posted from my mobile device
Because of the refined gold varied considerably in purity, specifying a price as a number of refined-gold coins did not fix the quantity of gold received in payment.
The merchants demand coins minted by Senegalese Gold.
Posted from my mobile device
17 Apr 2023, 18:24
Kudos
Bookmarks
Why is C not correct. If we assume all Senegal coins are 92% then they are easily converted into value given the constant currency. Seems to offer a very valid reason why they would be preferred.
