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by thecoolguy » Thu Jul 03, 2008 12:44 am
At a fruit stand yesterday, the price of each apple was $0.10 more than the price of each orange.

What was the total revenue from the sale of oranges at the fruit stand yesterday?

(1) The number of oranges sold at the fruit stand yesterday was 5 more than the number of apples.
(2) The total revenue from the sale of apples at the fruit stand yesterday was $15.00

Is it C or E?
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by szapiszapo » Thu Jul 03, 2008 2:03 am
I would say E

rO = revenue from sale of oranges
rA = revenue from sale of apples
pO = price of orange
pA = price of apple
nO = number of oranges sold
nA = number of apples sold

We know that:
rO = nO * pO
rA = nA * pA
and from the wording that:
pA = pO + 0,1


Purpose is to find the value of rO, keeping in mind that we do not know from the wording the values of all the above-mentioned variables.

Statement 1 tells us that:
nO = 5*nA
therefore:
rO = nO*pO = 5nA*pO = 5nA*(pA - 0,1)
we need the values of nA & pA to be able to conclude

Statement 2 tells us that:
rA = 15
therefore:
rO = nO*pO = nO*(pA - 0,1) = nO*(15/nA - 0.1) = 15nO/nA - 0,1nO
we need the values of nO & nA to be able to conclude

Combining statements 1& 2 tells us that:
rO = 15*5 - 0,1nO = 75 - 0,1nO
we need the value of nO top be able to conclude

hence my answer would be E
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by Motherjane » Tue Jul 15, 2008 10:22 am
From the main statement :
Let cost of each orange yesterday was $X. Price of each apple was $ (X+0.10)

From Statement (1) :
Let number of oranges sold yesterday was Y. Apples Sold = Y-5
We have cost of each orange as unknown and number of oranges sold as unknown. Hence, insufficient to answer the question on the revenues of the oranges sold.

Statement (2): The total revenue for the sales of the apples was $15.
We have the cost of orange as unknown. From the information given, we just know that number of apples sold yesterday was :
15/ (X+0.10). We cannot find the value of X with the information given.Hence, insufficient to answer the question on the revenues of the oranges sold.

From two statements together:
We know that 5 oranges were sold more than apples yesterday. The margin on each orange is $0.1 more than that of apple.
So the total margin on the sale of oranges than apples yesterday was 5 * 0.1 = $0.50

Hence the total revenues on the sale of oranges is : $15 + $0.50 = $15.50

Sufficient.

Hence (C).
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by sudhir3127 » Tue Jul 15, 2008 11:31 pm
Answer is C . Both statements together are necessary.
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by beeparoo » Thu Jul 17, 2008 2:40 pm
Motherjane wrote:From the main statement :
Let cost of each orange yesterday was $X. Price of each apple was $ (X+0.10)
...

From two statements together:
We know that 5 oranges were sold more than apples yesterday. The margin on each orange is $0.1 more than that of apple.
So the total margin on the sale of oranges than apples yesterday was 5 * 0.1 = $0.50

Hence the total revenues on the sale of oranges is : $15 + $0.50 = $15.50

Sufficient.

Hence (C).
Hmmm, I'm not convinced that the bolded part above is logically sound.

Using the same variables, that is, X = $ per orange, and, Y = # of oranges sold yesterday...

The REVENUE from oranges is 'XY' and the REVENUE from apples is
$15 = (X + 0.10)(Y - 5)

Rearranging this gives us XY = 15.50 + 5X - 0.10Y
While you appropriately accounted for the added "marginal" cost of $0.50, you neglected two things:

A) Accounting for 5 added units (of oranges) at X dollars per orange
B) Discounting for the cheaper price per unit of an orange by subtracting the marginal difference of 10c per unit by number of oranges.

I contest that the answer should be 'E'.

In fact, plugging in numbers will return different REVENUE for the oranges.
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by gmat740 » Fri Aug 07, 2009 9:32 am
Guys, Please help me with this one.

I am not at all convinced how can answer be C :shock:

Although, the OA given is C.

Please advice which one is correct?
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by tom4lax » Sun Aug 09, 2009 6:46 am
Wait, so is the answer to this question C or E? I also got E.
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by tohellandback » Mon Aug 10, 2009 11:38 pm
I think the answer must be E

price orages=P
price apples= P+.1

1)
apples=A
orages=A+5
revenue from oranges: P(A+5)
NOT SUFF


2)Not suff. we need to know at least the number of oranges
combined:
from 2,

A(P+.1)=15
AP+.1A=15
A=15/(P+.1)
possible value are:
P=.9
A=15

P=2.9
A=5

P=4.9
A=3


P=14.9
A=1

each will give different values of P(A+5)
The powers of two are bloody impolite!!
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Example to prove insufficiency

by keough » Tue Aug 11, 2009 4:33 pm
This is what i thought of...proving insufficiency by counterexample...

Combining st 1 and 2

Example 1

# apples = 5,
cost of each apple = $3

so 5 x 3 = 15$ ..statement 2

oranges therefore = 5+5 = 10
cost of each orange = $3 - $0.10 = $2.90

so 10 x 2.90 = 29$

price difference = 29 - 15 = 14$

Example 2

# apples = 3,
cost of each apple = $5

so 3 x 5 = 15$ ..statement 2

oranges therefore = 3+5 = 8
cost of each orange = $5 - $0.10 = $4.90

so 8 x 4.90 = 39.2 $

price difference = 39.2 - 15 = 24.2$

1. the price difference is different in ex1 and ex2
2. The price difference should be only $.50

Therefore C is may not be the right answer....so it is E IMO
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by gmatv09 » Wed Aug 12, 2009 11:56 am
P(a) = 0.10 + P(o)
Revenue from oranges = n(o) * P(o) = ?

Stmt1:
No. of oranges n(o) = n(a) + 5

Not suff

Stmt2:
Revenue from apples = 15 = n(a) * P(a)

Not suff

IMO (E)
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