• Free Veritas GMAT Class
Experience Lesson 1 Live Free

Available with Beat the GMAT members only code

• Award-winning private GMAT tutoring
Register now and save up to $200 Available with Beat the GMAT members only code • Reach higher with Artificial Intelligence. Guaranteed Now free for 30 days Available with Beat the GMAT members only code • 5 Day FREE Trial Study Smarter, Not Harder Available with Beat the GMAT members only code • 5-Day Free Trial 5-day free, full-access trial TTP Quant Available with Beat the GMAT members only code • Get 300+ Practice Questions 25 Video lessons and 6 Webinars for FREE Available with Beat the GMAT members only code • Free Practice Test & Review How would you score if you took the GMAT Available with Beat the GMAT members only code • Free Trial & Practice Exam BEAT THE GMAT EXCLUSIVE Available with Beat the GMAT members only code • 1 Hour Free BEAT THE GMAT EXCLUSIVE Available with Beat the GMAT members only code • Magoosh Study with Magoosh GMAT prep Available with Beat the GMAT members only code ## What was the range of the selling prices of the 30 This topic has 2 expert replies and 0 member replies jjjinapinch Senior | Next Rank: 100 Posts Joined 24 Jul 2017 Posted: 83 messages #### What was the range of the selling prices of the 30 Mon Jul 24, 2017 9:30 am What was the range of the selling prices of the 30 wallets sold by a certain store yesterday? (1) 1/3 of the wallets had a selling price of$24 each.
(2) The lowest selling price of the wallets was 1/3 the highest selling price of the wallets.

Official Guide question

### GMAT/MBA Expert

Rich.C@EMPOWERgmat.com Elite Legendary Member
Joined
23 Jun 2013
Posted:
9316 messages
Followed by:
478 members
2867
GMAT Score:
800
Tue Jul 25, 2017 6:23 pm
Hi jjjinapinch,

We're told that 30 wallets were sold at a store. We're asked for the RANGE in the prices (meaning the largest price - smallest price). This question can be solved by TESTing VALUES.

1) 1/3 of the wallets had a selling price of $24 each. This Fact tells us that 10 (of the 30) wallets had a price of$24, but we don't know the largest price nor the smallest price of the group, so there are clearly multiple answers to this question.
Fact 1 is INSUFFICIENT

2) The lowest selling price of the wallets was 1/3 the highest selling price of the wallets.

IF....
The lowest price = $10 Then the largest price =$30
And the range = $20 IF.... The lowest price =$15
Then the largest price = $45 And the range =$30
Fact 2 is INSUFFICIENT

Combined, no additional work is needed. Both examples in Fact 2 could include the 10 wallets that cost $24 each (without impacting the lowest or largest prices of the other wallets) and lead to different answers. Combined, INSUFFICIENT Final Answer: E GMAT assassins aren't born, they're made, Rich _________________ Contact Rich at Rich.C@empowergmat.com ### GMAT/MBA Expert Jay@ManhattanReview GMAT Instructor Joined 22 Aug 2016 Posted: 1029 messages Followed by: 22 members Upvotes: 470 Mon Jul 24, 2017 10:44 pm jjjinapinch wrote: What was the range of the selling prices of the 30 wallets sold by a certain store yesterday? (1) 1/3 of the wallets had a selling price of$24 each.
(2) The lowest selling price of the wallets was 1/3 the highest selling price of the wallets.

Official Guide question
Range = Highest value - Lowest value

In this question,

Range of the prices = Highest price - Lowest price

Statement 1: 1/3 of the wallets had a selling price of \$24 each.

This cannot help it. We can get the highest price and the lowest price of the 30 items. Insufficient.

Statement 2: The lowest selling price of the wallets was 1/3 the highest selling price of the wallets.

Say the highest selling price = x, thus, the lowest selling price = x/3

Range = x - x/3 = 2x/3

However, we do not know the value of x. Insufficient.

Statement 1 & 2:

From (1), we do not know which part from the lot of 30 items is being referred.

1. If it is the highest priced items, then x = 24, and the Range = 2x/3 = (2*24)/3 = 16.

2. If it is the lowest priced items, then x/3 = 24 => x = 72, and the Range = 2x/3 = (2*72)/3 = 48.

No unique value. Insufficient.

The correct answer: E

Hope this helps!

Download free ebook: Manhattan Review GMAT Quantitative Question Bank Guide

-Jay
_________________
Manhattan Review GMAT Prep

Locations: New York | New Delhi | Seoul | Cairo | and many more...

### Best Conversation Starters

1 lheiannie07 76 topics
2 LUANDATO 59 topics
3 ardz24 52 topics
4 AAPL 46 topics
5 M7MBA 45 topics
See More Top Beat The GMAT Members...

### Most Active Experts

1 Jeff@TargetTestPrep

Target Test Prep

141 posts
2 Brent@GMATPrepNow

GMAT Prep Now Teacher

136 posts
3 GMATGuruNY

The Princeton Review Teacher

134 posts
4 Rich.C@EMPOWERgma...

EMPOWERgmat

129 posts
5 Scott@TargetTestPrep

Target Test Prep

110 posts
See More Top Beat The GMAT Experts