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GMATRockstar
This is a "Value" DS question.

Value: The time it took Bob to finish.

Given information: We know that Distance = Rate x Time, so if we knew Distance/Rate, then we could find the Time. We could think of this question as asking, what is the ratio between Bob's Distance and Bob's Rate?

Need: Distance/Rate

Statement (1):

We know D = R x T.
This says that (5/3)D = R x 3.

Let's simplify:
(5/3)D = 3R
5D = 9R
D/R = 9/5

Sufficient! We found the ratio we were looking for!

Statement (2):

Average Speed = Total Distance / Total Time
30 = D/T

Unfortunately, we cannot find T. This is insufficient.

The answer is (A).

I am missing sth..

How do you set this up?
Statement (1):

We know D = R x T.
This says that (5/3)D = R x 3.

I thought 5/3 was the rate not the D...

thanks,
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I am missing sth..

How do you set this up?
Statement (1):

We know D = R x T.
This says that (5/3)D = R x 3.

I thought 5/3 was the rate not the D...

thanks,[/quote]

Think of it this way, D= R*T

now had Bob been a faster by a factor of 2/3, he'd have taken 3 hours.

so, w/o calculation. D= R*T, if we're increasing R by a certain factor, we need to decrease time by the same factor. I mean, just think about it... if you increased your speed, your time for the journey will decrease. and if you decrease your speed by a certain factor, your total time for the journey will decrease by the same factor. so, knowing the rate and time, via A, we can find out his time on the road.

hope this helped. :)
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Bunuel
How long did it take Bob to complete the race?

(1) If Bob were 2/3 faster, his time would have been 3 hours.
(2) Bob’s average speed was 30 miles per hour.

Suppose that bob speeding at a speed v completes s miles in t hours.

If bob is 5/3 faster (5/3v), given a constant "s" which is distance, he must have completed the race in 3/5 T.

As for 1) we know 3/5T=3 hours thus we can find T.

Phrase 2) is not useful to find the time since we don't know the distance.
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Bunuel
How long did it take Bob to complete the race?

(1) If Bob were 2/3 faster, his time would have been 3 hours.
(2) Bob’s average speed was 30 miles per hour.

IMO A

Originally, Speed (s) = distance (d) / time (t) ---------------(a)

Statement 1:

2s/3 = d/3
2s = d

Put in (a)
s = 2s/t
t = 2 is sufficient

Statement 2:
Average speed = Total distance / total time = 30
No data about other variables; so it is insufficient
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