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14 Apr 2006, 13:49
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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:
35%
(medium)
Question Stats:
67% (01:30) correct
33%
(01:12)
wrong
based on 1504
sessions
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In 1999, Company X's gross profit was what percent of its revenue?
(1) In 1999 Company X's gross profit was 1/3 of its expenses
(2) In 1999 Company X's expenses were 3/4 of its revenue.
(1) In 1999 Company X's gross profit was 1/3 of its expenses
(2) In 1999 Company X's expenses were 3/4 of its revenue.
14 Apr 2006, 14:06
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In 1999, Company X's gross profit was what percent of its revenue?
1. In 1999 Company X's gross profit was 1/3 of its expenses
2. In 1999 Company X's expenses were 3/4 of its revenue.
Let's remember that gross profit equals revenue - expenses.
Statement 1: GP = 1/3 E
GP = R - E
GP = R - 3GP
R = 4GP
Therefore, Gross profit is 1/4 of revenues.
Statement 2: E = 3/4R
GP = R - E
GP = R - 3/4R
GP = 1/4R
Sufficient.
Answer is D.
1. In 1999 Company X's gross profit was 1/3 of its expenses
2. In 1999 Company X's expenses were 3/4 of its revenue.
Let's remember that gross profit equals revenue - expenses.
Statement 1: GP = 1/3 E
GP = R - E
GP = R - 3GP
R = 4GP
Therefore, Gross profit is 1/4 of revenues.
Statement 2: E = 3/4R
GP = R - E
GP = R - 3/4R
GP = 1/4R
Sufficient.
Answer is D.
General Discussion
25 Dec 2007, 21:57
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parsifal
D.
1. gp = (1/3) e
e = 3gp
r = e + gp
r = 3gp + gp
r = 4gp
gp/r = gp/4gp = 1/4 = 25%.. suff.
2. e = (3/4) r
gp = r - e
gp = r - (3/4)r
gp = (1/4)r
again gp/r = 25%.
