A retailer purchased a television set for x percent less than it list price, and then sold it for y percent...

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Source: GMAT Paper Tests

A retailer purchased a television set for x percent less than its list price, and sold it for y percent less than it list price. What was the list price of the television set?

1) x = 15
2) x - y = 5

The OA is E

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BTGmoderatorLU wrote:
Sun Mar 01, 2020 5:36 am
Source: GMAT Paper Tests

A retailer purchased a television set for x percent less than its list price, and sold it for y percent less than it list price. What was the list price of the television set?

1) x = 15
2) x - y = 5

The OA is E
Even both the statements are insufficient since we do not know the numerical value of profit/loss.

Had the numerical value of profit/loss were given, the correct option would have been B.

The correct answer: E

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BTGmoderatorLU wrote:
Sun Mar 01, 2020 5:36 am
Source: GMAT Paper Tests

A retailer purchased a television set for x percent less than its list price, and sold it for y percent less than it list price. What was the list price of the television set?

1) x = 15
2) x - y = 5

The OA is E
Solution:

Question Stem Analysis:


We need to determine the list price of the TV set.

Statement One Alone:

We see that the retailer purchased the TV set for 15 percent less than its list price. However, without knowing how much he paid for it, we can’t determine the list price of the TV set. Statement one alone is not sufficient.

Statement Two Alone:

This does not allow us to determine the list price of the TV set. Statement two is not sufficient.

Statements One and Two Together:

We see that x = 15 and y = 10 since x - y = 5. Therefore, the retailer purchased the TV set for 15 percent less than its list price and sold the TV set for 10 percent less than its list price. However, without knowing how much he paid for it or how much he sold it for, we can’t determine the list price of the TV set. Both statements together are not sufficient.

Answer: E

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