An appliance store acquired a refrigerator at a cost of x dollars and

Question

An appliance store acquired a refrigerator at a cost of x dollars and sold the item for y dollars. The cost of the item was what percent of its selling price?

(1) The gross profit from the item was 25% of the cost of the item.

(2) The gross profit from the item was 20% of the selling price of the item.

This is a  Data Sufficiency Butler Question

Check the links to other Butler Projects:

Problem Solving Butler  
  Data Sufficiency Butler  
  Critical Reasoning Butler  
  Reading Comprehension Butler  
  Data Insights Butler

odionam · Answer

IT IS asking cost of item is what % of selling price as we know profit is selling-cost and % profit is s-c/c from statement 1 similarly from statement 2 s-c/s is given from each statement we can find relationship b/w cost and selling price so reach statement alone is sufficient. D is answer 
for refrence from1 25= s-c/c *100 =s/c=5/4 same from 2 c/s=4/5 so cost is 80% of selling price

dhart · Answer

1. A looks suffficient , profit = 25% of cp , y=1.25x
.25 = s-c/c -> s=1.25c
2. profit = 20% of sell price =
 .2=s-c/s => c=.8s , s= 1/.8*c => s=1.25c

D

onlyPlanA · Answer

Given that, cost price = x; selling price = y

Statement-1: 
Profit = 25% of x
y - x = 0.25x
y = 1.25x
x = 0.8y = 80% of y
Sufficient.

Statement-2: 
Profit = 20 % of y
y - x = 0.2y
x = 0.8y = 80% of y
Sufficient.

Answer is D.

RahuloBKL · Answer

We need to find  what percent of the selling price is the cost :
yx×100
Statement (1)
Gross profit = 25% of cost.
y−x=0.25x y=1.25x
Therefore,
yx=1.25xx=0.8
So cost =  80% of selling price .
✅ Statement (1) is sufficient.
Statement (2)
Gross profit = 20% of selling price.
y−x=0.20y x=0.80y
So cost =  80% of selling price .
✅ Statement (2) is sufficient.
Answer:  D — Each statement alone is sufficient. 
 GMAT shortcut: 
 
 Profit = 25% of  cost  → Selling price = 125% of cost → Cost =  80% of SP   
 Profit = 20% of  selling price  → Cost =  80% of SP

An appliance store acquired a refrigerator at a cost of x dollars and

Prep Toolkit

Top 5 GMAT Debrief Videos

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards

GMAT Data Sufficiency (DS) Questions

­An appliance store acquired a refrigerator at a cost of x dollars and

Prep Toolkit

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards

An appliance store acquired a refrigerator at a cost of x dollars and