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Updated on: 19 Sep 2015, 14:39
Originally posted by BrainLab on 19 Sep 2015, 13:06.
Last edited by ENGRTOMBA2018 on 19 Sep 2015, 14:39, edited 1 time in total.
Last edited by ENGRTOMBA2018 on 19 Sep 2015, 14:39, edited 1 time in total.
Edited the question and renamed the topic
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E
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Difficulty:
5%
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Question Stats:
90% (01:14) correct
10%
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wrong
based on 2706
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Three houses are being sold through a real estate agent. What is the asking price for the house with the second-largest asking price?
(1) The difference between the greatest and the least asking price is $130,000.
(2) The difference between the two greater asking prices is $85,000.
Source: [OG 2016]
(A) Statement 1 alone is sufficient, but statement 2 alone is not.
(B) Statement 2 alone is sufficient, but statement 1 alone is not.
(C) Both statements together are sufficient, but neither alone is sufficient.
(D) Each statement alone is sufficient.
(E) Neither statement is sufficient, even when combined.
(1) The difference between the greatest and the least asking price is $130,000.
(2) The difference between the two greater asking prices is $85,000.
Source: [OG 2016]
(A) Statement 1 alone is sufficient, but statement 2 alone is not.
(B) Statement 2 alone is sufficient, but statement 1 alone is not.
(C) Both statements together are sufficient, but neither alone is sufficient.
(D) Each statement alone is sufficient.
(E) Neither statement is sufficient, even when combined.
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ENGRTOMBA2018
Joined: 20 Mar 2014
Last visit: 01 Dec 2021
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Given Kudos: 816
Concentration: Finance, Strategy
Schools: Kellogg '18 (M)
GMAT 1: 750 Q49 V44
GPA: 3.7
WE:Engineering (Aerospace and Defense)
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19 Sep 2015, 14:48
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BrainLab
Let the 3 houses be a,b and c with a<b<c. Per the question, b=?
Per statement 1, c-a=130000, no information about 'b'. Not sufficient.
Per statement 2, c-b=85000, no unique information about 'b'. Not sufficient.
Combining the 2 statements, c-a=130000 and c-b=85000, we have 2 unique equations and 3 variables. We will not be able to find 1 unique value of 'b'. Thus E is the correct answer.
19 Dec 2017, 08:10
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BrainLab
We can let a = the lowest asking price, b = the second-largest asking price, and c = the largest asking price.
We need to determine b.
Statement One Alone:
The difference between the greatest and the least asking price is $130,000.
Thus, c - a = 130,000; however, we cannot determine b. Statement one alone is not sufficient to answer the question.
Statement Two Alone:
The difference between the two greater asking prices is $85,000.
Thus c - b = 85,000. However, without knowing the value of c, statement two alone is not sufficient to answer the question.
Statements One and Two Together:
We have:
c - a = 130,000
and
c - b = 85,000
Even with these two equations, we still cannot determine b.
Answer: E
