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Three houses are being sold through a real estate agent

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Three houses are being sold through a real estate agent  [#permalink]

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New post Updated on: 19 Sep 2015, 13:39
1
7
00:00
A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

87% (01:13) correct 13% (01:21) wrong based on 802 sessions

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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]

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Originally posted by BrainLab on 19 Sep 2015, 12:06.
Last edited by ENGRTOMBA2018 on 19 Sep 2015, 13:39, edited 1 time in total.
Edited the question and renamed the topic
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Re: Three houses are being sold through a real estate agent  [#permalink]

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New post 19 Sep 2015, 13:48
2
BrainLab wrote:
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]


Follow posting guidelines. For a particular source of the official guide, mention it in the question and not in the topic.

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.
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Re: Three houses are being sold through a real estate agent  [#permalink]

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New post 15 Dec 2017, 17:46
Hi All,

We're told that three houses are being sold. We're asked for the price with the second-largest asking price. This DS question can be solved by TESTing VALUES.

1) The difference between the greatest and the least asking price is $130,000.

IF....
The largest price = $200,000
Then the least price = $70,000
Then the 2nd-largest price could be ANY value between those two.
Fact 1 is INSUFFICIENT

2) The difference between the two greater asking prices is $85,000.

IF....
The largest price = $200,000
Then the 2nd-largest price = $115,000

IF....
The largest price = $210,000
Then the 2nd-largest price = $125,000
Fact 2 is INSUFFICIENT

Combined, we have an unlimited number of possible outcomes, including two that we've already noted above (with the least price included):

IF....
The largest price = $200,000
Then the 2nd-largest price = $115,000
Then the least price = $70,000

IF....
The largest price = $210,000
Then the 2nd-largest price = $125,000
Then the least price = $80,000
Combined, INSUFFICIENT

Final Answer:

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Re: Three houses are being sold through a real estate agent  [#permalink]

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New post 19 Dec 2017, 07:10
1
BrainLab wrote:
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.


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
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Re: Three houses are being sold through a real estate agent   [#permalink] 19 Dec 2017, 07:10
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