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karthikpandian19: Legendary Member; Posts: 1665; Joined: Thu Nov 03, 2011 7:04 pmFollowed by: 70 members; Thanked: 165 times

by karthikpandian19 » Tue Dec 13, 2011 12:33 am

A jewelry dealer initially offered a bracelet for sale at an asking price that would give a profit to the dealer of 40 percent of the original cost. What was the original cost of the bracelet?
(1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of $403.
(2) The jewelry dealer sold the bracelet for $1,953.

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Source: Beat The GMAT — Data Sufficiency | Tue Dec 13, 2011 12:33 am

rijul007: Legendary Member; Posts: 588; Joined: Sun Oct 16, 2011 9:42 amFollowed by: 9 members; Location: New Delhi, India; Thanked: 130 times; GMAT Score:720

by rijul007 » Tue Dec 13, 2011 12:38 am

(1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of $403.

Asking price 140
10 % discount = 126

26% of original price = $403

Sufficient

(2) The jewelry dealer sold the bracelet for $1,953.
140% of original price $1,953

Sufficient

Option D

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Anurag@Gurome: GMAT Instructor; Posts: 3835; Joined: Fri Apr 02, 2010 10:00 pmFollowed by: 523 members; Location: Milpitas, CA; Thanked: 1854 times; GMAT Score:770

by Anurag@Gurome » Tue Dec 13, 2011 12:47 am

karthikpandian19 wrote:A jewelry dealer initially offered a bracelet for sale at an asking price that would give a profit to the dealer of 40 percent of the original cost. What was the original cost of the bracelet?
(1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of $403.
(2) The jewelry dealer sold the bracelet for $1,953.

(1) After reducing this asking price by 10 percent, the jewelry dealer sold the bracelet at a profit of $403.
Let original selling price = S
1.4S - 0.10(1.4S) = 403 + S; SUFFICIENT.

Statement 2 is NOT sufficient in case the price at which the bracelet was sold was not the same as the asking price. I feel the language is not clear enough for this statement.

The correct answer should be A.

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