GMAT Paper Tests
Last Friday a certain shop sold 3/4 of the sweaters in its inventory. Each sweater sold for $20. What was the total revenue last Friday from the sale of this sweaters?
1) When the shop opened last Friday, there were 160 sweaters in its inventory.
2) All but 40 sweaters in the shop's inventory were sold last Friday.
OA D.
Last Friday a certain shop sold 3/4 of the sweaters in its
This topic has expert replies
GMAT/MBA Expert
- Brent@GMATPrepNow
- GMAT Instructor
- Posts: 16207
- Joined: Mon Dec 08, 2008 6:26 pm
- Location: Vancouver, BC
- Thanked: 5254 times
- Followed by:1268 members
- GMAT Score:770
Timer
00:00
Your Answer
A
B
C
D
E
Global Stats
Given: Last Friday a certain shop sold 3/4 of the sweaters in its inventory. Each sweater sold for $20.AAPL wrote:GMAT Paper Tests
Last Friday a certain shop sold 3/4 of the sweaters in its inventory. Each sweater sold for $20. What was the total revenue last Friday from the sale of this sweaters?
1) When the shop opened last Friday, there were 160 sweaters in its inventory.
2) All but 40 sweaters in the shop's inventory were sold last Friday.
Target question: What was the total revenue last Friday from the sale of this sweaters?
Statement 1: When the shop opened last Friday, there were 160 sweaters in its inventory.
3/4 of 160 = 120
So, 120 sweaters were sold at a cost of $20 per sweater.
120 x $20 = $2400. So, the total revenue from sweaters was $2400
Since we can answer the target question with certainty, statement 1 is SUFFICIENT
Statement 2: All but 40 sweaters in the shop's inventory were sold last Friday.
If 3/4 of sweaters were sold, then 1/4 of the sweaters were NOT sold
In other words, 40 represents 1/4 of the sweater inventory on Friday morning.
1/4 of 160 = 40
So, when the shop opened last Friday, there were 160 sweaters in the inventory
IMPORTANT: we've now arrived at a point that's the same as statement 1.
So, if statement 1 is sufficient, it must be the case that statement 2 is sufficient.
Answer: D
Cheers,
Brent
GMAT/MBA Expert
- Jay@ManhattanReview
- GMAT Instructor
- Posts: 3008
- Joined: Mon Aug 22, 2016 6:19 am
- Location: Grand Central / New York
- Thanked: 470 times
- Followed by:34 members
Timer
00:00
Your Answer
A
B
C
D
E
Global Stats
Say the inventory of sweaters in the shop on last Friday was x, thus 3x/4 numbers of sweaters were sold.AAPL wrote:GMAT Paper Tests
Last Friday a certain shop sold 3/4 of the sweaters in its inventory. Each sweater sold for $20. What was the total revenue last Friday from the sale of this sweaters?
1) When the shop opened last Friday, there were 160 sweaters in its inventory.
2) All but 40 sweaters in the shop's inventory were sold last Friday.
OA D.
Total revenue last Friday from the sale of this sweaters = 3x/4 * 20 = 15x.
If we get the value of x, we get the answer.
Question rephrased: What's the value of x, the inventory of sweaters in the shop last Friday?
Let's take each statement one by one.
1) When the shop opened last Friday, there were 160 sweaters in its inventory.
=> x = 160. Sufficient.
2) All but 40 sweaters in the shop's inventory were sold last Friday.
=> x - 40 = 3x/4
=> x = 160. Sufficient.
The correct answer: D
Hope this helps!
-Jay
_________________
Manhattan Review GMAT Prep
Locations: Manhattan Review Mumbai | Hyderabad | GRE Prep Warangal | Begumpet GRE Coaching | and many more...
Schedule your free consultation with an experienced GMAT Prep Advisor! Click here.