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13 Mar 2024, 01:30
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E
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:
73% (02:19) correct
27%
(02:25)
wrong
based on 175
sessions
History
Date
Time
Result
Not Attempted Yet
Throughout last year, a stylish jacket had a full price of P in certain store. At the beginning of this year, the regular full price of the jacket rose A% percent. Shortly after the beginning of this year, this store had a sale, and Margarette bought the jacket at B% less than then this year’s current full price, where B > A. How much did Margarette save, buying the jacket this year on sale, as compared to what she would have spent last year?
(1) P = $250
(2) B – A = 5
(1) P = $250
(2) B – A = 5
13 Mar 2024, 09:37
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Normal price: P
Margarette paid: \(P*(1+0.A)*(1-0.B)\)
Margarette saved: \(P - [P*(1+0.A)*(1-0.B)]\)
(1) P = $250
This statement only provides us 1 variable, the normal price of the jacket. Without more information one cannot solve for how much Margarette saved.
insufficient
(2) B – A = 5
Knowing the difference between the percentages is not enough to solve for the amount Margatette saved. Firstly, we do not have the original price and secondly, we do know the values for A and B.
insufficient
(1)+(2)
Combining the statements will still not allow us to solve this question. While we do know the original price, without knowing the exact values of A and B we will one could have several answers depending on their values, even if the difference between the values is constantly 5.
Assigning the following values: A = 0 and B = 5
In this instance, she saved $12.5
However, if A = 20 and B = 25
Then with the initial rise, the price becomes $300 and then is discounted to $225
Meaning that she saved $25
insufficient
ANSWER E
Margarette paid: \(P*(1+0.A)*(1-0.B)\)
Margarette saved: \(P - [P*(1+0.A)*(1-0.B)]\)
(1) P = $250
This statement only provides us 1 variable, the normal price of the jacket. Without more information one cannot solve for how much Margarette saved.
insufficient
(2) B – A = 5
Knowing the difference between the percentages is not enough to solve for the amount Margatette saved. Firstly, we do not have the original price and secondly, we do know the values for A and B.
insufficient
(1)+(2)
Combining the statements will still not allow us to solve this question. While we do know the original price, without knowing the exact values of A and B we will one could have several answers depending on their values, even if the difference between the values is constantly 5.
Assigning the following values: A = 0 and B = 5
In this instance, she saved $12.5
However, if A = 20 and B = 25
Then with the initial rise, the price becomes $300 and then is discounted to $225
Meaning that she saved $25
insufficient
ANSWER E
13 Mar 2024, 12:05
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Option E should be the correct answer.
Statement 1:
P = $250
Suppose A=20% -> Increased price = (1.2 * 250) = 300
Suupose B=25% -> Margarette's cost price = (300 * 0.75) = 225
=> save = (250 - 225) = 25
Now the value of A and B could be anything. In which case saved amount is variable.
Insufficient
Statement 2:
B – A = 5
Suppose Price at the end of previous year = 100y
At the starting of this year it is (100+A)y
If Margarette buys it with B% less value of this year's full price and B=A+5
Cost price for Margarette = (100+A)y * (1-\(\frac{(A+5)}{100}\)) = \(\frac{(100+A)(95-A)y}{100}\)
Different values of A gives different outcomes for savings.
Insufficient.
Even if we club both statements together, we don't get a fixed value, because in that case we just know that 100y = 250
Hence, neither statement is sifficient for answering the question.
Hence, option E
Statement 1:
P = $250
Suppose A=20% -> Increased price = (1.2 * 250) = 300
Suupose B=25% -> Margarette's cost price = (300 * 0.75) = 225
=> save = (250 - 225) = 25
Now the value of A and B could be anything. In which case saved amount is variable.
Insufficient
Statement 2:
B – A = 5
Suppose Price at the end of previous year = 100y
At the starting of this year it is (100+A)y
If Margarette buys it with B% less value of this year's full price and B=A+5
Cost price for Margarette = (100+A)y * (1-\(\frac{(A+5)}{100}\)) = \(\frac{(100+A)(95-A)y}{100}\)
Different values of A gives different outcomes for savings.
Insufficient.
Even if we club both statements together, we don't get a fixed value, because in that case we just know that 100y = 250
Hence, neither statement is sifficient for answering the question.
Hence, option E
