A store purchased 20 coats that each cost an equal amount and then sold each of the 20 coats at an equal price. What was the store's gross profit on the 20 coats?
1) If the selling price per coat had been twice as much, the store's gross profit on the 20 coats would have been $2.400
2) If the selling price per coat had been $2 more, the store's gross profit on the 20 coats would have been $440.
OA: B
-----------------------------
The annual rent collected by a corporation from a certain building was x percent more in 1998 than in 1997 and y percent less in 1999 than in 1998. Was the annual rent collected by the corporation from the building more in 1999 than in 1997?
1) x > y
2) xy / 100 > x - y
OA: B
5-Day Free Trial
5-day free, full-access trial TTP
Available with Beat the GMAT members only code
MORE DETAILS
Having trouble with these two exercises. Any help please?
This topic has expert replies
-
fiza gupta
- Master | Next Rank: 500 Posts
- Posts: 216
- Joined: Sun Jul 31, 2016 9:55 pm
- Location: Punjab
- Thanked: 31 times
- Followed by:7 members
let c.p of 1 coat be = cp =>20 coats = 20cp
let s.p of 1 coat be = sp =>20 coats = 20sp
profit = 20(sp-cp)
1) sp = 2sp , profit = 2,400
profit = 20(2sp)-20cp = 2,400
2sp - cp = 120
INSUFFICIENT
2) sp= sp +2
profit = 20(sp+2) - 20cp = 440
sp+2 - cp = 22
sp-cp = 20
multiply by 20 both sides
20(sp-cp) = 400
profit = 400
SUFFICIENT
SO B
let s.p of 1 coat be = sp =>20 coats = 20sp
profit = 20(sp-cp)
1) sp = 2sp , profit = 2,400
profit = 20(2sp)-20cp = 2,400
2sp - cp = 120
INSUFFICIENT
2) sp= sp +2
profit = 20(sp+2) - 20cp = 440
sp+2 - cp = 22
sp-cp = 20
multiply by 20 both sides
20(sp-cp) = 400
profit = 400
SUFFICIENT
SO B
Fiza Gupta
GMAT/MBA Expert
-
Jay@ManhattanReview
- GMAT Instructor
- Posts: 3008
- Joined: Mon Aug 22, 2016 6:19 am
- Location: Grand Central / New York
- Thanked: 470 times
- Followed by:34 members
Q2: The annual rent collected by a corporation from a certain building was x percent more in 1998 than in 1997 and y percent less in 1999 than in 1998. Was the annual rent collected by the corporation from the building more in 1999 than in 1997?
1) x > y
2) xy / 100 > x - y
-----------------
Say the rent in 1997 = $100.
=> Rent in 1998 = $100 + x
=> rent in 1999 = $(100+x)(1-y%)
We have to decide: 100 < = > (100+x)(1-y%)
=> 100 < = > 100 - xy% + x -100y%
=> 0 < = > x - y - xy/100
=> xy/100 < = > x - y.
From S2, we know that xy/100 > x - y. Sufficient.
Let us analyze S1.
xy/100 < = > x - y can be written as y > = < x( 1-y%).
We see that if we increase the value of y, thought the value of LHS increase, due to the presence of the factor (1-y%) in RHS, the value of RHS also increases. The opposite goes if we decrease the value of y. So we cannot bank on the information in S1: x > y. Insufficient!
Hope this helps!
-Jay
_________________
Manhattan Review GMAT Prep
Locations: New York | New Delhi | Seoul | Cairo | and many more...
Schedule your free consultation with an experienced GMAT Prep Advisor! Click here.
1) x > y
2) xy / 100 > x - y
-----------------
Say the rent in 1997 = $100.
=> Rent in 1998 = $100 + x
=> rent in 1999 = $(100+x)(1-y%)
We have to decide: 100 < = > (100+x)(1-y%)
=> 100 < = > 100 - xy% + x -100y%
=> 0 < = > x - y - xy/100
=> xy/100 < = > x - y.
From S2, we know that xy/100 > x - y. Sufficient.
Let us analyze S1.
xy/100 < = > x - y can be written as y > = < x( 1-y%).
We see that if we increase the value of y, thought the value of LHS increase, due to the presence of the factor (1-y%) in RHS, the value of RHS also increases. The opposite goes if we decrease the value of y. So we cannot bank on the information in S1: x > y. Insufficient!
Hope this helps!
-Jay
_________________
Manhattan Review GMAT Prep
Locations: New York | New Delhi | Seoul | Cairo | and many more...
Schedule your free consultation with an experienced GMAT Prep Advisor! Click here.
