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by vananh2501 » Mon Jun 04, 2012 5:15 pm
Could anypeople please help me this following question?
Thanks a lot!

An attorney charged a fee for estate planning services for a certain estate. The attorney's fee was what percent of the accessed value of the estate?
(1) The accessed value of the estate was $1.2 million.
(2) The attorney charged $2,400 for the estate planning services.

A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.

IMO : C
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by aneesh.kg » Mon Jun 04, 2012 9:05 pm
vananh2501 wrote:Could anypeople please help me this following question?
Thanks a lot!

An attorney charged a fee for estate planning services for a certain estate. The attorney's fee was what percent of the accessed value of the estate?
(1) The accessed value of the estate was $1.2 million.
(2) The attorney charged $2,400 for the estate planning services.

A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D. EACH statement ALONE is sufficient.
E. Statements (1) and (2) TOGETHER are NOT sufficient.

IMO : C
Statement(1):
No information about the fee.
INSUFFICIENT

Statement(2):
No information about the assessed value of the estate.
INSUFFICIENT

Upon combining them, we have information about the assessed value of the estate as well as the fee charged by him. The required percentage = (Fee/Assessed Value)*100, can be calculated.

[spoiler](C)[/spoiler] is correct.
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