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price of sweater

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Source: — Data Sufficiency |
Junior | Next Rank: 30 Posts
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Location: Palo Alto, CA
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Re: price of sweater

by N.O » Fri Sep 05, 2008 4:08 pm
ddm wrote:help
Purchase Price= X

Selling Price = X+$30

Lets check #1.

Rev = 270 = Selling Price * Quantity (n)

270 = (X+30)*n >>> there are two unknown in one equation. Hence, #1 is alone INSUFF.

Lets check #2.

Selling Price = X + 50% X = 3/2*X

3/2*X=X+30 ---> x= $60 per sweater. But we still do not know how many were sold. #2 is INSUFF alone.

When #1 and #2 combined though, it works because we cal plug the selling price we calculated in #2 into the revenue equation in #1. So the answer is C.
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