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The retail price of a certain refrigerator is 1.6 times its wholesale price. What is the difference between the retail

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The retail price of a certain refrigerator is 1.6 times its wholesale price. What is the difference between the retail

by BTGmoderatorDC » Fri Dec 18, 2020 4:31 pm

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The retail price of a certain refrigerator is 1.6 times its wholesale price. What is the difference between the retail price and the wholesale price of the refrigerator?

(1) The wholesale price of the refrigerator is $200.
(2) The retail price of the refrigerator is $320.


OA D

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Source: — Data Sufficiency |
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Re: The retail price of a certain refrigerator is 1.6 times its wholesale price. What is the difference between the reta

by deloitte247 » Wed Dec 23, 2020 4:06 am

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let wholesale price = w
retail price = r
r = w * 1.6
Statement 1: The wholesale price of the refrigerator is $200.
w=200
Hence, r=1.6w = 1.6 * 200 = 320
Therefore, r - w = 320 - 200 = 120
Statement 1 is SUFFICIENT.

Statement 2: The retail price of the refrigerator is $320.
r=320 and from the question stem r=1.6w
so, 320 = 1.6w
w = 1.6/320 = 200
Therefore, r-w = 320 - 200 = 120
Statement 2 is also SUFFICIENT.
Since each statement alone is SUFFICIENT, then option D is correct.
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