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Three houses are being sold through a real estate agent
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Updated on: 19 Sep 2015, 14:39
Updated on: 19 Sep 2015, 14:39
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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]
(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]
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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Three houses are being sold through a real estate agent
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19 Sep 2015, 14:48
19 Sep 2015, 14:48
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BrainLab
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]
Let the 3 houses be a,b and c with a<b<c. Per the question, b=?(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]
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.
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Re: Three houses are being sold through a real estate agent
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19 Dec 2017, 08:10
19 Dec 2017, 08:10
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Expert Reply
BrainLab
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.
(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.
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
