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percent of its revenue

by sanju09 » Wed Apr 08, 2009 4:34 am
In 1999 company X's gross profit was what percent of its revenue?

(1) In 1999 company X's gross profit was 1/3 of its expenses.

(2) In 1999 company X's expenses were 3/4 of its revenue.



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by bluementor » Thu Apr 09, 2009 5:16 am
Profit = Revenue - Expenses
P = R - E

Statement 1:
P = (1/3)*E
3P = E

so,

P = R - 3P
4P = R
P = (1/4)*R. Sufficient.

Statement 2:
E = 3R/4

P = R - 3R/4
P = R/4. Sufficient.

Choose D.

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