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16 Jun 2025, 00:30
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C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
96% (00:43) correct
4%
(01:25)
wrong
based on 67
sessions
History
Date
Time
Result
Not Attempted Yet
Sarah purchased an antique lamp and immediately took it to an appraiser. The appraiser told her that the lamp was a fair purchase and was worth what she had paid for it. Five years later, Sarah had the lamp appraised again, and the increase in value was substantial. What was the percent increase in value compared to Sarah’s original purchase price?
(1) Sarah’s original purchase price was $200.
(2) The new appraised value was $700.
Gentle note to all experts and tutors: Please refrain from replying to this question until the Official Answer (OA) is revealed. Let students attempt to solve it first. You are all welcome to contribute posts after the OA is posted. Thank you all for your cooperation!
(1) Sarah’s original purchase price was $200.
(2) The new appraised value was $700.
Gentle note to all experts and tutors: Please refrain from replying to this question until the Official Answer (OA) is revealed. Let students attempt to solve it first. You are all welcome to contribute posts after the OA is posted. Thank you all for your cooperation!
16 Jun 2025, 01:09
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What was the percent increase in value compared to Sarah’s original purchase price?
Need the appraised value and the original value to calculate this
S1
Original value = 200
No info on appraised value
Insufficient
S2
Appraised value = 700
No info on original value
Insufficient
Together, we have both. Answer C
Need the appraised value and the original value to calculate this
S1
Original value = 200
No info on appraised value
Insufficient
S2
Appraised value = 700
No info on original value
Insufficient
Together, we have both. Answer C
Bunuel
16 Jun 2025, 02:13
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Question: What is %increase in value of lamp
For this we need to apply percentage change formula and we need original and new values.
S1
Original price is $200
Until and unless we know the new price, we can't calculate %change
Hence in sufficient
S2
The new value is $700
We don't know ow the original price from thus statement. Hence insufficient
Combining both statements
Original price is $200 and new price is $700
So %increase = (700-200)/200 *100 = 250%
Hence option C is correct
For this we need to apply percentage change formula and we need original and new values.
S1
Original price is $200
Until and unless we know the new price, we can't calculate %change
Hence in sufficient
S2
The new value is $700
We don't know ow the original price from thus statement. Hence insufficient
Combining both statements
Original price is $200 and new price is $700
So %increase = (700-200)/200 *100 = 250%
Hence option C is correct
Bunuel
