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A sewing store buys fabric X by the bolt at the wholesale

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A sewing store buys fabric X by the bolt at the wholesale

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A sewing store buys fabric X by the bolt at the wholesale price. If each bolt contains 50 meters of fabric X, what is the wholesale price of a bolt of fabric X?

(1) The store sells fabric X for $6.25 per meter.
(2) The store sells fabric X at 25 percent above the wholesale price.

OA=C

Source: Official Guide

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VJesus12 wrote:
A sewing store buys fabric X by the bolt at the wholesale price. If each bolt contains 50 meters of fabric X, what is the wholesale price of a bolt of fabric X?

(1) The store sells fabric X for $6.25 per meter.
(2) The store sells fabric X at 25 percent above the wholesale price.

OA=C

Source: Official Guide
Target question: What is the wholesale price of a bolt of fabric X?

Given: Each bolt contains 50 meters of fabric X

Statement 1: The store sells fabric X for $6.25 per meter.
No information about the relationship between the WHOLESALE price and the RETAIL price
Statement 1 is NOT SUFFICIENT

Statement 2: The store sells fabric X at 25 percent above the wholesale price.
So, the RETAIL price is 25% greater than the WHOLESALE price
However, we are not given any information about what the RETAIL price is.
Statement 2 is NOT SUFFICIENT

Statements 1 and 2 combined
Let w = the WHOLESALE price of the bolt

Statement 2 tells us that the RETAIL price is 25% greater than the WHOLESALE price
In other words: the RETAIL price = (WHOLESALE price) + (25% of the WHOLESALE price)
So: RETAIL price = w + 0.25w
Simplify: RETAIL price = 1.25w

Statement 1 tells us that RETAIL price is $6.25/meter.
There are 50 meters in a bolt
So, the RETAIL price of the bolt = (50)($6.25) = $312.50

COMBINE the statements to get: $312.50 = 1.25w
Since we COULD solve the above equation for w, we COULD answer the target question with certainty.
So, the combined statements are SUFFICIENT

Answer: C

Cheers,
Brent

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Brent Hanneson – Creator of GMATPrepNow.com
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