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Fish181
Joined: 13 Dec 2023
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25 Mar 2024, 10:01
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D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
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Question Stats:
71% (02:05) correct
29%
(02:09)
wrong
based on 729
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Retailer Z acquired a certain refrigerator and then sold it. Retailer Z's cost to acquire the refrigerator was what percent of the selling price of the refrigerator?
(1) At the same selling price, the retailer’s gross profit on the refrigerator would have been 15 percent greater if the cost to acquire it had been 10 percent less.
(2) At the same selling price, the retailer’s gross profit on the refrigerator would have been 3 percent less if the cost to acquire it had been 2 percent greater.
Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
EACH statement ALONE is sufficient.
Statements (1) and (2) TOGETHER are NOT sufficient.
(1) At the same selling price, the retailer’s gross profit on the refrigerator would have been 15 percent greater if the cost to acquire it had been 10 percent less.
(2) At the same selling price, the retailer’s gross profit on the refrigerator would have been 3 percent less if the cost to acquire it had been 2 percent greater.
Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
EACH statement ALONE is sufficient.
Statements (1) and (2) TOGETHER are NOT sufficient.
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(1) At the same selling price, the retailer’s gross profit on the refrigerator would have been 15 percent greater if the cost to acquire it had been 10 percent less.
GP=SP-C
new GP: 1,15GP
new C: 0,9C
SP-0,9C=1,15(SP-C)
C/SP=0,6 SUFFICIENT
(2) At the same selling price, the retailer’s gross profit on the refrigerator would have been 3 percent less if the cost to acquire it had been 2 percent greater.
GP=SP-C
new GP: 0,97GP
new C: 1,02C
SP-1,02C=0,97(SP-C)
C/SP=0,6 SUFFICIENT
Answer D
GP=SP-C
new GP: 1,15GP
new C: 0,9C
SP-0,9C=1,15(SP-C)
C/SP=0,6 SUFFICIENT
(2) At the same selling price, the retailer’s gross profit on the refrigerator would have been 3 percent less if the cost to acquire it had been 2 percent greater.
GP=SP-C
new GP: 0,97GP
new C: 1,02C
SP-1,02C=0,97(SP-C)
C/SP=0,6 SUFFICIENT
Answer D
25 Mar 2024, 10:23
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Retailer Z acquired a certain refrigerator and then sold it. Retailer Z's cost to acquire the refrigerator was what percent of the selling price of the refrigerator?
We are looking for Cost/Selling price. So, as long as we can determine that ratio, we can determine the answer.
(1) At the same selling price, the retailer’s gross profit on the refrigerator would have been 15 percent greater if the cost to acquire it had been 10 percent less.
Gross Profit = Selling Price - Cost
So, by using the information provided by this choice, we can find the ratio Cost/(Selling Price - Cost), as follows:
0.15 × (Selling Price - Cost) = 0.10 × Cost
0.15/0.10 = Cost/(Selling Price - Cost)
3/2 = Cost/(Selling Price - Cost)
Then, since Selling Price = Cost + Selling Price - Cost, we can also find the ratio Cost/Selling Price, as follows:
Cost/Selling Price = Cost/(Cost + Selling Price - Cost) = 1/(1 + 2/3) = 3/5
Notice that we don't need to do the above math to answer this DS question. We just need to see that once we have ratio Cost/(Selling Price - Cost), we can get to the answer.
Sufficient.
(2) At the same selling price, the retailer’s gross profit on the refrigerator would have been 3 percent less if the cost to acquire it had been 2 percent greater.
As we can with the information provided by statement (1), we can use the information provided by this choice to findi the ratio Cost/Selling Price - Cost and then work our way to Cost/Selling Price.
Sufficient.
Correct answer: D
We are looking for Cost/Selling price. So, as long as we can determine that ratio, we can determine the answer.
(1) At the same selling price, the retailer’s gross profit on the refrigerator would have been 15 percent greater if the cost to acquire it had been 10 percent less.
Gross Profit = Selling Price - Cost
So, by using the information provided by this choice, we can find the ratio Cost/(Selling Price - Cost), as follows:
0.15 × (Selling Price - Cost) = 0.10 × Cost
0.15/0.10 = Cost/(Selling Price - Cost)
3/2 = Cost/(Selling Price - Cost)
Then, since Selling Price = Cost + Selling Price - Cost, we can also find the ratio Cost/Selling Price, as follows:
Cost/Selling Price = Cost/(Cost + Selling Price - Cost) = 1/(1 + 2/3) = 3/5
Notice that we don't need to do the above math to answer this DS question. We just need to see that once we have ratio Cost/(Selling Price - Cost), we can get to the answer.
Sufficient.
(2) At the same selling price, the retailer’s gross profit on the refrigerator would have been 3 percent less if the cost to acquire it had been 2 percent greater.
As we can with the information provided by statement (1), we can use the information provided by this choice to findi the ratio Cost/Selling Price - Cost and then work our way to Cost/Selling Price.
Sufficient.
Correct answer: D
