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bww
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 Posted: Sat May 12, 2007 5:27 pm Post subject: DS question |
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22. A jewelry dealer initially offered a bracelet for sale at an asking price that would give a profit to the dealer of 40 percent of the original cost. What was the original cost of the bracelet?
(1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of $403.
(2) The jewelry dealer sold the bracelet for $1,953.
Answer key says A. I thought it was D.
Let n=original selling price
1) 1.4n-.10(1.4n)=403+n sufficient
2) 1953=1.4n sufficient
Is it A b/c the question implies the dealer didn't sell the bracelet for what he initially asked (hence the use of word "initially" in the question)???
Thx |
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jayhawk2001
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| Posted: Sun May 13, 2007 12:06 am Post subject: Re: DS question |
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| bww wrote: | 22. A jewelry dealer initially offered a bracelet for sale at an asking price that would give a profit to the dealer of 40 percent of the original cost. What was the original cost of the bracelet?
(1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of $403.
(2) The jewelry dealer sold the bracelet for $1,953.
Answer key says A. I thought it was D.
Let n=original selling price
1) 1.4n-.10(1.4n)=403+n sufficient
2) 1953=1.4n sufficient
Is it A b/c the question implies the dealer didn't sell the bracelet for what he initially asked (hence the use of word "initially" in the question)???
Thx |
Yeah, the only reason why B is insufficient is if the price at which the
bracelet was "sold" was not the same as the "asking" price.
Its rather odd that they would test something like this in a quants
question. |
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