A clothing store acquired an item at a cost of x dollars and

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A clothing store acquired an item at a cost of x dollars and sold the item for y dollars. The store's gross profit from the item was what percent of its cost for the item?

(1) y - x = 20
(2) y/x = 5/4

OA B

Source: Official Guide
Source: — Data Sufficiency |

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by Jay@ManhattanReview » Thu Apr 04, 2019 9:50 pm

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BTGmoderatorDC wrote:A clothing store acquired an item at a cost of x dollars and sold the item for y dollars. The store's gross profit from the item was what percent of its cost for the item?

(1) y - x = 20
(2) y/x = 5/4

OA B

Source: Official Guide
Percentage of gross profit = (Profit/cost)*100% = [(y - x)/x]*100% = (y/x - 1)*100%

We see that Statement 2 alone is sufficient, while Statement 1 alone is not.

The correct answer: B

Hope this helps!

-Jay
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