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Mike bought a computer system for $4,000 and later sold it. For what price did Mike sell the computer system?

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by AAPL » Sat Dec 11, 2021 6:38 pm

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Mike bought a computer system for $4,000 and later sold it. For what price did Mike sell the computer system?

1) Mike sold the computer system for 60% of the price he paid for it

2) Mike advertised the computer system in a newspaper at a price of $3,000, which was 25% more than the price for which he actually sold it

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Re: Mike bought a computer system for $4,000 and later sold it. For what price did Mike sell the computer system?

by Brent@GMATPrepNow » Mon Dec 13, 2021 7:08 am
AAPL wrote: ↑
Sat Dec 11, 2021 6:38 pm
 Princeton Review

Mike bought a computer system for $4,000 and later sold it. For what price did Mike sell the computer system?

1) Mike sold the computer system for 60% of the price he paid for it

2) Mike advertised the computer system in a newspaper at a price of $3,000, which was 25% more than the price for which he actually sold it

OA D
Target question: For what price did Mike sell the computer system?

Given: Mike bought a computer system for $4,000 and later sold it.

Statement 1: Mike sold the computer system for 60% of the price he paid for it.
Mike paid $4000.
So, his selling price = 60% of $4000 = $2400
Since we can answer the target question with certainty, statement 1 is SUFFICIENT

Statement 2: Mike advertised the computer system in a newspaper at a price of $3,000, which was 25% more than the price for which he actually sold it.
In other words, $3000 is 25% greater than the actual selling price
Or we can write: 3000 = (1.25)(selling price)
Divide both sides by 1.25 to get: selling price = $2400
Since we can answer the target question with certainty, statement 2 is SUFFICIENT

Answer: D
Brent Hanneson - Creator of GMATPrepNow.com
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