BTGmoderatorDC wrote: ↑

Thu Aug 20, 2020 5:41 pm

A store sold 6 bicycles with an average sale price of $1,000. What was the price of the most expensive bicycle?

(1) The median price was $1,000.
(2) The range of prices was $600.



OA E

Solution:

We know the total amount of money the 6 bicycles sold for is $6000. We need to determine the most expensive bicycle.

Statement One Alone:

The median price was $1,000.

This is not sufficient. It’s possible that each bicycle sold for $1000. In this case, the most expensive bicycle is still $1000. It’s also possible that two sold for $500 each, two sold for $1000 each and two sold for $1500. In this case, the most expensive bicycle is $1500.

Statement Two Alone:

The range of prices was $600.

This is not sufficient. It’s possible that three sold for $700 each and the other three sold for $1300. In this case, the most expensive bicycle is $1300. It’s also possible that two sold for $600 each and the other four sold for $1200 each. In this case, the most expensive bicycle is $1200.

Statements One and Two Together:

The two statements together are not sufficient, either. It’s possible that three bicycles sold for $700 each and the other three sold for $1300. In this case, the most expensive bicycle is $1300. It’s also possible that two sold for $800 each, three sold for $1000 each, and the last one sold for $1400. In this case, the most expensive bicycle is $1400.

Answer: E