A shopkeeper purchased two TV sets A and B at the same price. If he sold the sets A and B at price P and Q respectively, such that -P-Q- =20% of P, on which TV set did he make a greater profit?(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent(2) The shopkeeper made a profit of 25 percent on set Aa)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'E'. Can you explain this answer?

Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity

Open App

GMAT Exam > GMAT Questions > A shopkeeper purchased two TV sets A and B at...

Join the Discussion on the App

A shopkeeper purchased two TV sets A and B at the same price. If he sold the sets A and B at price P and Q respectively, such that |P-Q| = 20% of P, on which TV set did he make a greater profit?

(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent

(2) The shopkeeper made a profit of 25 percent on set A

a)
Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.
b)
Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.
c)
BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.
d)
EACH statement ALONE is sufficient to answer the question asked.
e)
Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.

Correct answer is option 'E'. Can you explain this answer?

FREE This question is part of

Test: Absolute Equations- 2

Attempt Test

Attempt this Test

Verified Answer

A shopkeeper purchased two TV sets A and B at the same price. If he so...

Steps 1 & 2: Understand Question and Draw Inferences

Let the cost prices of TV sets A and B be P’ and Q’ respectively
Selling prices of TV sets A and B are P and Q respectively
|P-Q| = 0.2P.
- Since the difference between P and Q (|P – Q|) is a non-zero value, this means that P is not equal to Q
- Two cases are possible for the above equation:
- If, P-Q ≥ 0, then P-Q = 0.2P i.e. Q = 0.8P
- If P – Q < 0, then P-Q = -0.2P, i.e. Q = 1.2P

To Find: On which TV set did the shopkeeper make a greater profit?

Profit made on TV set A = P – P’
Profit made on TV set B = Q – Q’
So, we need to find, If P-P’ > Q- Q’?

Step 3: Analyze Statement 1 independently

(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent

Let the marked prices of sets A and B be P’’ and Q’’
Selling price of Tv set A = Marked Price of TV set A – Discount on TV set A
- As the discount on TV set A is zero P = P’
Selling price of TV set B = Marked Price of TV set B – Discount on TV set B
- Discount on TV set B = 0.25 * Marked Price of TV set B = 0.25Q’’
- So, Q = Q’’ - 0.25Q’’ = 0.75Q’’
So, we have P = P’’ and Q = 0.75Q’’

However, we do not know any relation between P’’ and Q’’ and between P’ and P’’ and between Q’ and Q’’

Insufficient to answer.

Step 4: Analyze Statement 2 independently

(2) The shopkeeper made a profit of 25 percent on set A.

We know that Selling price of TV set A = Cost Price of TV set A + Profit made on TV set A
- Profit on TV set A = 0.25*p’
So, we can write P = P’ + 0.25P’ = 1.25P’
So, using the 2 cases discussed in Step 1 and 2, we can write:
- Either Q = 0.8 *1.25P’ = P’
- Or Q = 1.2 *1.25P’ = 1.5P’

However it does not tell us anything about the profit made on TV set B, i.e. the value of Q – Q’. Insufficient to answer.

Step 5: Analyze Both Statements Together (if needed)

From statement-1, P = P’’ and Q = 0.75Q’’
From statement-2, P= 1.25P’

Combining both the statements does not give us any new information to answer the question.

Insufficient to answer.

Answer: E

View all questions of this test

View all answers Start learning for free

< Previous Question Next Question >

Explore Courses for GMAT exam

Similar GMAT Doubts

Two shopkeepers, Bruce and Wayne, sold the same toy at different prices. If the ratio of the prices at which Bruce and Wayne purchased the toy was 3:4 respectively, who made a greater profit on selling the toy?(1) The profit percentage of Bruce was higher than that of Wayne.(2) The ratio of the prices at which Bruce and Wayne sold the toy was 4:3 respectively.

View answer

Directions: Each Data Sufficiency problem consists of a question and two statements labeled (1) and (2), that provide data. Based on the data given plus your knowledge of mathematics and everyday facts, you must decide whether the data are sufficient for answering the question. The five answer choices are the same for every data sufficiency question.A designer purchased 20 mannequins that each cost an equal amount and then sold each one at a constant price. What was the designer’s gross profit on the sale of the 20 mannequins?(1) If the selling price per mannequin had been double what it was, the gross profit on the total would have been $2400.(2) If the selling price per mannequin had been $2 more, the stores gross profit on the total would have been $440.

View answer

A shopkeeper purchased 20 identical units of an item at a cost of $20 per unit. He sold some of the units at a price of $x per unit and the remaining units at $y per unit. What was his gross profit made by selling the 20 units of the item?(1) The number of units sold at $x per unit was 12(2) The total revenue generated by selling the 20 units was $880

View answer

Directions: Each Data Sufficiency problem consists of a question and two statements labeled (1) and (2), that provide data. Based on the data given plus your knowledge of mathematics and everyday facts, you must decide whether the data are sufficient for answering the question. The five answer choices are the same for every data sufficiency question.A certain voting bloc has how many voters?(1) If no additional voters are added to the bloc, and 4 of the current voters leave the bloc, there will be fewer than 20 voters.(2) If 4 more voters join the bloc and all of the present voters remain, there will be at least 27 voters.

View answer

If an item is purchased x percent less than its retail price, and then sold for y percent less than its retail price, what was the retail price of the item?(1) x - y = 10(2) y = 5

View answer

Top Courses for GMATView all

GMAT Focus Edition Mock Test Series 2024

Top Courses for GMAT

View all

A shopkeeper purchased two TV sets A and B at the same price. If he sold the sets A and B at price P and Q respectively, such that |P-Q| =20% of P, on which TV set did he make a greater profit?(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent(2) The shopkeeper made a profit of 25 percent on set Aa)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'E'. Can you explain this answer?

Share with a Friend

Answer this doubt

Question Description
A shopkeeper purchased two TV sets A and B at the same price. If he sold the sets A and B at price P and Q respectively, such that |P-Q| =20% of P, on which TV set did he make a greater profit?(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent(2) The shopkeeper made a profit of 25 percent on set Aa)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'E'. Can you explain this answer? for GMAT 2024 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about A shopkeeper purchased two TV sets A and B at the same price. If he sold the sets A and B at price P and Q respectively, such that |P-Q| =20% of P, on which TV set did he make a greater profit?(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent(2) The shopkeeper made a profit of 25 percent on set Aa)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'E'. Can you explain this answer? covers all topics & solutions for GMAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper purchased two TV sets A and B at the same price. If he sold the sets A and B at price P and Q respectively, such that |P-Q| =20% of P, on which TV set did he make a greater profit?(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent(2) The shopkeeper made a profit of 25 percent on set Aa)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'E'. Can you explain this answer?.

Solutions for A shopkeeper purchased two TV sets A and B at the same price. If he sold the sets A and B at price P and Q respectively, such that |P-Q| =20% of P, on which TV set did he make a greater profit?(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent(2) The shopkeeper made a profit of 25 percent on set Aa)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'E'. Can you explain this answer? in English & in Hindi are available as part of our courses for GMAT. Download more important topics, notes, lectures and mock test series for GMAT Exam by signing up for free.

Here you can find the meaning of A shopkeeper purchased two TV sets A and B at the same price. If he sold the sets A and B at price P and Q respectively, such that |P-Q| =20% of P, on which TV set did he make a greater profit?(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent(2) The shopkeeper made a profit of 25 percent on set Aa)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'E'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of A shopkeeper purchased two TV sets A and B at the same price. If he sold the sets A and B at price P and Q respectively, such that |P-Q| =20% of P, on which TV set did he make a greater profit?(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent(2) The shopkeeper made a profit of 25 percent on set Aa)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'E'. Can you explain this answer?, a detailed solution for A shopkeeper purchased two TV sets A and B at the same price. If he sold the sets A and B at price P and Q respectively, such that |P-Q| =20% of P, on which TV set did he make a greater profit?(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent(2) The shopkeeper made a profit of 25 percent on set Aa)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'E'. Can you explain this answer? has been provided alongside types of A shopkeeper purchased two TV sets A and B at the same price. If he sold the sets A and B at price P and Q respectively, such that |P-Q| =20% of P, on which TV set did he make a greater profit?(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent(2) The shopkeeper made a profit of 25 percent on set Aa)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'E'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice A shopkeeper purchased two TV sets A and B at the same price. If he sold the sets A and B at price P and Q respectively, such that |P-Q| =20% of P, on which TV set did he make a greater profit?(1) Set A was sold at no discount, while set B was sold at a discount of 25 percent(2) The shopkeeper made a profit of 25 percent on set Aa)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question asked.b)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question asked.c)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient to answer the question asked.d)EACH statement ALONE is sufficient to answer the question asked.e)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data specific to the problem are needed.Correct answer is option 'E'. Can you explain this answer? tests, examples and also practice GMAT tests.

Explore Courses for GMAT exam