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For a certain city's library, the average cost of purchasing

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by BTGmoderatorDC » Wed Sep 04, 2019 4:26 pm

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Answers

A

B

C

D

E

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Difficulty—

For a certain city's library, the average cost of purchasing each new book is $28. The library receives $15,000 from the city each year; the library also receives a bonus of $2,000 if the total number of items checked out over the course of the year exceeds 5,000. Did the library receive the bonus last year?

(1) The library purchased an average of 50 new books each month last year and received enough money from the city to cover this cost.
(2) The lowest number of items checked out in one moth was 459.

OA D

Source: Official Guide
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Source: — Data Sufficiency |

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by Jay@ManhattanReview » Thu Sep 05, 2019 11:16 pm
BTGmoderatorDC wrote:For a certain city's library, the average cost of purchasing each new book is $28. The library receives $15,000 from the city each year; the library also receives a bonus of $2,000 if the total number of items checked out over the course of the year exceeds 5,000. Did the library receive the bonus last year?

(1) The library purchased an average of 50 new books each month last year and received enough money from the city to cover this cost.
(2) The lowest number of items checked out in one month was 459.

OA D

Source: Official Guide
Let's take each statement one by one.

(1) The library purchased an average of 50 new books each month last year and received enough money from the city to cover this cost.

=> No. of books purchased last year = 50*12 = 600

Thus, the amount needed to buy 600 books = 600*28 = $16,800. Since $16,800 > $15,000, the library must have received the bonus last year. The answer is Yes. Sufficient.

(2) The lowest number of items checked out in one month was 459.

Total number of books issued last year > 459*12 (= ~460*12 = 5,520) > 5,000. The answer is Yes. Sufficient.

The correct answer: D

Hope this helps!

-Jay
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by deloitte247 » Sat Sep 07, 2019 8:10 am
Question=> Did the library receive the bonus last year?
Library receives $15,000 from the city each year, library also receives $2,000 bonus.
If total expenses on books purchased is greater than $15,000 then the library definitely receives the bonus.

Statement 1 => The library purchased an average of 50 new books each month last year and received enough money from the city to cover this cost.
Total number of books purchased for the year =
50 * 12 months = 600 books
Total cost = 600 * $28 = $16,800
$16,800 > $15,000 hence, the library receives the bonus
Therefore statement 1 is SUFFICFIENT

Statement 2 => The lowest number of items checked out in one month was 459
The lowest number of items for the year =
459 * 12 months = 5508 books
Since 5508 books is greater than the specified 5000 books in the question stem, hence; the library receives the bonus.
Statement 2 is SUFFICIENT
Since each statement alone is SUFFICIENT

Answer= option D
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