A retailer purchased a television set for \(x\) percent less

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GMAT Paper Tests

A retailer purchased a television set for \(x\) percent less than its list price and then sold it for \(y\) percent less than its list price. What was the list price of the television set?

1) \(x = 15\)
2) \(x - y = 5\)

OA E

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What was the last price of the television set?
Let the cost price = l
Television set was purchased at L-x% of L.
Television set was sold at L-y% of L.
Statement 1=> x=15. This means the television set was purchased at L-15% of L but the value of L (list price) remains unknown. Hence, statement 1 is NOT SUFFICIENT.

Statement 2=> x-y = 5. This establishes a linear relationship between x and y but the value of L (list price) still remains inconclusive. Hence, statement 2 is NOT SUFFICIENT.

Combining both statement together;
x-y=5 where x=15
15-y=5
-y=5-15
-y=-10
y=10.
This provides us with the exact value of x and y but the value of L (wt price) is still unknown. Hence, combining two statements together is NOT SUFFICIENT.

Therefore, option E is the correct answer.