Tricky question

Expert replies

vananh2501: Newbie | Next Rank: 10 Posts; Posts: 1; Joined: Mon Jun 04, 2012 4:18 am

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

Source: Beat The GMAT — Problem Solving | Mon Jun 04, 2012 5:15 pm

aneesh.kg: Master | Next Rank: 500 Posts; Posts: 385; Joined: Mon Apr 16, 2012 8:40 amFollowed by: 29 members; Location: Pune, India; Thanked: 186 times

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.

Aneesh Bangia
GMAT Math Coach
[email protected]

GMATPad:
Facebook Page: https://www.facebook.com/GMATPad

Featured schoolRound 2 closes Jan 7, 2027 53 days left

Chicago Booth

Since 1982, 10 Booth faculty members have received the Nobel Prize in Economic Sciences, more than any other business school.

#3
U.S. News rank: $175,000
Median base salary: 670
Average GMAT Focus: 635
Students in the class

Apply to Booth Visit chicagobooth.edu See the full profile

Photo: Warren LeMay, CC BY-SA 2.0

GMAT Course Reviews

563 reviews

1168 reviews

431 reviews

359 reviews

147 reviews

5/5

5 Star (563 Reviews)

"Target Test Prep is the closest to the official version of the GMAT exam, about 99% accuracy in terms of the quality and quantity of information. The course has excellently created singular sets of focused lessons and tests for every possible topic that one could come across in the official GMAT exam."

"The TTP course maximizes the efficiency of the time you spend studying. It will take time and effort but I could almost guarantee that if you complete the course exactly as it is laid out you will get an amazing score. They also have a very responsive team willing to help with any questions you might have."

"TTP has two things that I think no other test prep company offers: A teaching approach that reinforces understanding and an attitude that will give you the mental preparedness needed to succeed on the test. TTP gives you a deep understanding of the concept you need to know while teaching you how to think."

Write a Review