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What is the retail price of a certain calculator? (1) The re

by Anaira Mitch » Thu Jan 26, 2017 11:15 am
What is the retail price of a certain calculator?

(1) The retail price of the calculator is $2.00 more than the wholesale price.
(2) The retail price of the calculator is 50 percent more than the $4.00 wholesale price.

Please help with above problem.
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by Brent@GMATPrepNow » Thu Jan 26, 2017 11:41 am
Anaira Mitch wrote:What is the retail price of a certain calculator?

(1) The retail price of the calculator is $2.00 more than the wholesale price.
(2) The retail price of the calculator is 50 percent more than the $4.00 wholesale price.

Please help with above problem.

Target question: What is the retail price of a certain calculator?

Statement 1: The retail price of the calculator is $2.00 more than the wholesale price.
There are several scenarios that satisfy statement 1. Here are two:
Case a: the wholesale price is $1, and the retail price is $3. This satisfies the condition in statement 1. In this case, the retail price is $3
Case b: the wholesale price is $2, and the retail price is $4. This also satisfies the condition in statement 1. In this case, the retail price is $4
Since we cannot answer the target question with certainty, statement 1 is NOT SUFFICIENT

Statement 2: The retail price of the calculator is 50 percent more than the $4.00 wholesale price
50% of $4.00 is $2.00
So, the retail price of the calculator = $4.00 + $2.00 = $6.00
Since we can answer the target question with certainty, statement 2 is SUFFICIENT

Answer: B

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Brent
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by Jay@ManhattanReview » Thu Jan 26, 2017 10:22 pm
Anaira Mitch wrote:What is the retail price of a certain calculator?

(1) The retail price of the calculator is $2.00 more than the wholesale price.
(2) The retail price of the calculator is 50 percent more than the $4.00 wholesale price.

Please help with above problem.
We wish to know the retail price.

S1: The retail price of the calculator is $2.00 more than the wholesale price.

Say the retail price = R and the wholesale price = W.

Thus, R = W+2. We do not have any information about W; we cannot get R. Insufficient.

S2: The retail price of the calculator is 50 percent more than the $4.00 wholesale price.

R = W + 50% of W = W + (1/2)*W = 3W/2 = (3*4)/2 = $6. Sufficient.

Answer: B

-Jay
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by Jay@ManhattanReview » Thu Jan 26, 2017 10:27 pm
What could be the answer to the following modified question of the above?
What is the retail price of a certain calculator?

(1) The retail price of the calculator is $2.00 more than the wholesale price.
(2) The retail price of the calculator is 50 percent more than the wholesale price.

I deleted the wholesale price = $4 from statement 2.
-Jay
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by Anaira Mitch » Sat Jan 28, 2017 2:34 pm
Jay@ManhattanReview wrote:What could be the answer to the following modified question of the above?
What is the retail price of a certain calculator?

(1) The retail price of the calculator is $2.00 more than the wholesale price.
(2) The retail price of the calculator is 50 percent more than the wholesale price.

I deleted the wholesale price = $4 from statement 2.
-Jay
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Now, we don't whole sale value hence answer will turn to E.
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by Jay@ManhattanReview » Sun Jan 29, 2017 12:45 am
Anaira Mitch wrote:
Jay@ManhattanReview wrote:What could be the answer to the following modified question of the above?
What is the retail price of a certain calculator?

(1) The retail price of the calculator is $2.00 more than the wholesale price.
(2) The retail price of the calculator is 50 percent more than the wholesale price.

I deleted the wholesale price = $4 from statement 2.
-Jay
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Now, we don't whole sale value hence answer will turn to E.
Well the answer would be C.

From S1, we have R = W+2.

From S2, R =(3W)/2

From S1 and S2, we get W+2 = (3W)/2 => W = 4 => R=6.

Hope this helps!

-Jay
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by Anaira Mitch » Sun Jan 29, 2017 2:28 am
Jay@ManhattanReview wrote:
Anaira Mitch wrote:
Jay@ManhattanReview wrote:What could be the answer to the following modified question of the above?
What is the retail price of a certain calculator?

(1) The retail price of the calculator is $2.00 more than the wholesale price.
(2) The retail price of the calculator is 50 percent more than the wholesale price.

I deleted the wholesale price = $4 from statement 2.
-Jay
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Now, we don't whole sale value hence answer will turn to E.
Well the answer would be C.

From S1, we have R = W+2.

From S2, R =(3W)/2

From S1 and S2, we get W+2 = (3W)/2 => W = 4 => R=6.

Hope this helps!

-Jay
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This makes perfect sense. Thanks for your insight.
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