If a real estate agent received a commission of 6 percent of the

Question

If a real estate agent received a commission of 6 percent of the selling price of a certain house, what was the selling price of the house?

(1) The selling price minus the real estate agent’s commission was $84,600.
(2) The selling price was 250 percent of the original purchase price of $36,000.

DangerPenguin · Answer

statement 1: sufficient
not sure how to figure this out but since we are given an equation (selling price-commission=84,600) and we know that the commission was 6%, there's only 1 possibility for the selling price after reading statement 1

statement 2: sufficient
250% of 36,000 = selling price

Answer D!

kinghyts · Answer

Statement 1 : The selling price minus the real estate agent’s commission was $84,600.

S.P (1-6/100) = 84,600 . We can find out the Selling Price. Hence sufficient.

Statement 2 : The selling price was 250 percent of the original purchase price of $36,000.

S.P = 250/100 * 36000. Sufficient.

Hence the answer should be D)

beattheheat · Answer

Solution: Determine Selling Price?

Statement 1: The selling price minus the real estate agent’s commission was $84,600
84600=94% Selling Price - Sufficient

Statement 2: The selling price was 250 percent of the original purchase price of $36,000
Selling Price= 250*36000/100 - Sufficient

Each statement alone is sufficient, Answer D

BrentGMATPrepNow · Answer

Target question :    If a real estate agent received a commission of 6 percent of the selling price of a certain house, what was the selling price of the house?

Statement 1 : The selling price minus the real estate agent’s commission was $84,600.  
Let x equal the selling price of the house. So our goal is to find the value of x
From statement one we can write: x - (6% of x) = 84,600
Simplify: x - 0.06x = 84,600
Simplify: 0.94x = 84,600
Divide both sides by 0.94 to get x = 84,600/0.94

NOTE: We need not actually calculate 84,600/0.94. We need only recognize that we COULD determine the value of x, which means we could determine the selling price of the house.
Since we can answer the  target question  with certainty, statement 1 is SUFFICIENT

Statement 2 : The selling price was 250 percent of the original purchase price of $36,000. 
Let x equal the selling price of the house.
We can write: x = 250% of 36,000
In other words: x = (2.5)(36,000)
Once again, we need only recognize that we COULD determine the value of x, which means we could determine the selling price of the house.
Since we can answer the  target question  with certainty, statement 2 is SUFFICIENT

Answer: D

Cheers,
Brent

JiddiHuMain · Answer

statement 1: sufficient
not sure how to figure this out but since we are given an equation (selling price-commission=84,600) and we know that the commission was 6%, there's only 1 possibility for the selling price after reading statement 1

statement 2: sufficient
250% of 36,000 = selling price

Answer D!

Hovkial · Answer

OFFICIAL GMAT EXPLANATION

If S represents the selling price of the house, then the real estate agent’s commission is 0.06S.

From (1), S – 0.06S = 84,600, so 0.94S = 84,600 and S = 90,000 . Therefore, (1) alone is sufficient for determining the selling price, in dollars, of the house.

From (2), S = 2.5(36,000). Therefore, (2) alone is sufficient for determining the selling price, in dollars, of the house.

The correct answer is the fourth answer choice.

MathRevolution · Answer

Forget the conventional way to solve DS questions.

We will solve this DS question using the variable approach.

DS question with 1 variable: Let the original condition in a DS question contain 1 variable. Now, 1 variable would generally require 1 equation for us to be able to solve for the value of the variable.

We know that each condition would usually give us an equation, and Since we need 1 equation to match the numbers of variables and equations in the original condition, the logical answer is D.

To master the Variable Approach, visit https://www.mathrevolution.com and check our lessons and proven techniques to score high in DS questions.

Let’s apply the 3 steps suggested previously. [Watch lessons on our website to master these 3 steps]

Step 1 of the Variable Approach: Modifying and rechecking the original condition and the question. We have to find the selling price of the house.

=> Let us assign a variable to the selling price (x)
=> Commission = 6% of x = 0.6x

Second and the third step of Variable Approach: From the original condition, we have 1 variable (x).To match the number of variables with the number of equations, we need 1 equation. Since conditions (1) and (2) will provide 1 equation each, D would most likely be the answer.

Let’s take look at each condition.

Condition(1) tells us that the The selling price minus the real estate agent’s commission was $84,600.

=> x - 0.6x = 84,000

=> 0.4x = 84,000

=> x = 210,000

Since the answer is unique, condition(1) alone is sufficient by CMT 2.

Condition(2) tells us that The selling price was 250 percent of the original purchase price of $36,000 .

=> x = $\frac{250}{100}$ * 36,000

=> x = 90,000

Since the answer is unique, condition (2) alone is sufficient by CMT 2.

Each condition alone is sufficient.

So, D is the correct answer.

Answer: D

bumpbot · Answer

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If a real estate agent received a commission of 6 percent of the

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