A dress was initially listed at a price that would have given the

Question

A dress was initially listed at a price that would have given the store a profit of 20% of the wholesale cost. What is the wholesale cost of the dress?

(1) After reducing the listed price by 10%, the dress sold for a net profit of 10$.
(2) The dress sold for 50$.

This is a  Data Sufficiency Butler Question

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rosyln · Answer

IMHO  D is the correct answer.
 Statement 1:  The listed price was initially set at 1.2x (20% profit on the wholesale cost)
After reducing the price by 10%, the selling price became: 1.2x * 0.9 = 1.08x;
The net profit is given at $10. The profit is calculated as: Profit = Selling price - Wholesale cost, substituting values: 1.08x - x = 10; 0.08x = 10; x = 10/0.08 = 125. Therefore, Statement 1 alone is sufficient.

Statement 2:  The dress sold for $50. 
The selling price after 10% reduction is given as $50. From Statement 1, the reduced selling price is 1.08x. Substituting: 1.08x = 50; x = 50/1.08; x = 46.2. Statement 2 is also sufficient. Consequently, since both statements individually provide enough information to determine x, combining them is not necessary. So, D) Each statement alone is sufficient.

EshaFatim · Answer

Hi rosyln You're saying the answer is D. But while solving statement 2, you're taking information from statement 1 though. So, B naturally becomes not independently soluble. It needs more information which you're taking from statement 1. However, You solved it right. I think it was a misunderstanding in answering the option. Just wanted to help you note.

The answer should be A.

anirchat · Answer

One of those questions where Option  2  is not independent of Option  1 . Going by this logic, D is automatically disqualified as an answer. This needs to be corrected.

Option  2.  could have been : The listed price is 50$. Only then, this question makes sense.

trepsixore · Answer

I think, 
there's a problem in the statements, specifically with statement 2. It doesn't make sense. Sounds like some information is missing. 
A good question though.

addy10024 · Answer

the question says INITIALLY listed, statement two says sold for 50, these 2 prices are different.

So that's why statement 2 is insuff.

Ans - (A)

Nitkmr · Answer

CONCLUSION

LISTED PRICE IS NOT EQUAL TO SOLD PRICE ( DONT ASSUME)

A dress was initially listed at a price that would have given the

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GMAT Data Sufficiency (DS) Questions

A dress was initially listed at a price that would have given the

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