MGMAT problem Company Z

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HPengineer: Master | Next Rank: 500 Posts; Posts: 165; Joined: Wed Mar 24, 2010 8:02 am; Thanked: 2 times; Followed by:1 members

MGMAT problem Company Z

by HPengineer » Mon Dec 27, 2010 8:55 pm

Company z only sells chairs and tables. What percent of its revenue in 2008 did company z derive from its sales of tables?

S1.) In 2008, the average price of tables sold by Company Z was 10% higher than the average price of chairs sold by company z.

S2.) In 2008, Company z sold 20% fewer tables then chairs..

Mgmat says to pick a smart number... which i understand... however im trying to solve by algebra only cant seem to complete it..

Can anyone elaborate on how to solve this using algebra only?

Quote

Source: Beat The GMAT — Data Sufficiency | Mon Dec 27, 2010 8:55 pm

captcha: Junior | Next Rank: 30 Posts; Posts: 19; Joined: Mon Dec 20, 2010 8:56 pm; Thanked: 1 times

by captcha » Mon Dec 27, 2010 9:28 pm

Company z only sells chairs and tables. What percent of its revenue in 2008 did company z derive from its sales of tables?

S1.) In 2008, the average price of tables sold by Company Z was 10% higher than the average price of chairs sold by company z.

S2.) In 2008, Company z sold 20% fewer tables then chairs..

We will need both statements S1 & S2 to solve

Let SP of chair = x
then SP of table = 1.1 x

Chairs sold = y
therefore, tables sold = 0.8 y;

Now,
Revenue = xy + 1.1x*0.8y

Revenue from tables = 1.1x * 0.8 y

% of revenue from tables = 1.1*0.8 xy/(xy + 1.1 *0.8 xy) *100

=0.88xy/(1+.88)xy *100
=0.88/1.88 *100
=46.8%

IMO C