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A trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?
(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.
(2) The trader paid more to purchase Product Z than to purchase Product Y.
(2) The trader paid more to purchase Product Z than to purchase Product Y.
- 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;
- 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 are needed.
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
A trader purchased three products - Product X, Product Y, and Product ...
Solution:
Given: A trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000.
To find: Did the trader pay more than $200,000 for Product Z?
Let's analyze both the statements one by one.
Statement 1: The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.
Let's assume the amount paid for Product X is 'x'. Then, according to this statement:
The amount paid for Product Y = '2x'
The amount paid for Product X and Product Y combined = '3x'
We know that the trader purchased three products for a sum of $500,000. Therefore,
Amount paid for Product Z = 500,000 - (Amount paid for Product X + Amount paid for Product Y)
Amount paid for Product Z = 500,000 - (3x)
We need to find if the amount paid for Product Z is more than $200,000 or not. So, we can write:
500,000 - 3x > 200,000
Solving this, we get:
x < />
So, the amount paid for Product X is less than $100,000. But we don't know how much was paid for Product Z. So, this statement alone is not sufficient to answer the question.
Statement 2: The trader paid more to purchase Product Z than to purchase Product Y.
Let's assume the amount paid for Product Z is 'z'. Then, according to this statement:
z > amount paid for Product Y
We don't know the exact values of 'z' and the amount paid for Product Y. So, this statement alone is not sufficient to answer the question.
Statements 1 and 2:
From statement 1, we know that x < 100,000.="" from="" statement="" 2,="" we="" know="" that="" z="" /> amount paid for Product Y. We still don't know the exact values of 'x', 'y', and 'z', but we can say the following:
- The sum of x and y is less than $300,000 (from statement 1).
- The amount paid for z is more than the amount paid for y (from statement 2).
So, it's possible that the trader paid more than $200,000 for Product Z, but we can't be sure. However, we know for sure that the trader didn't pay more than $300,000 for Product Z. Therefore, statements 1 and 2 together are sufficient to answer the question, but neither statement alone is sufficient.
Hence, the correct answer is option (c).
Given: A trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000.
To find: Did the trader pay more than $200,000 for Product Z?
Let's analyze both the statements one by one.
Statement 1: The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.
Let's assume the amount paid for Product X is 'x'. Then, according to this statement:
The amount paid for Product Y = '2x'
The amount paid for Product X and Product Y combined = '3x'
We know that the trader purchased three products for a sum of $500,000. Therefore,
Amount paid for Product Z = 500,000 - (Amount paid for Product X + Amount paid for Product Y)
Amount paid for Product Z = 500,000 - (3x)
We need to find if the amount paid for Product Z is more than $200,000 or not. So, we can write:
500,000 - 3x > 200,000
Solving this, we get:
x < />
So, the amount paid for Product X is less than $100,000. But we don't know how much was paid for Product Z. So, this statement alone is not sufficient to answer the question.
Statement 2: The trader paid more to purchase Product Z than to purchase Product Y.
Let's assume the amount paid for Product Z is 'z'. Then, according to this statement:
z > amount paid for Product Y
We don't know the exact values of 'z' and the amount paid for Product Y. So, this statement alone is not sufficient to answer the question.
Statements 1 and 2:
From statement 1, we know that x < 100,000.="" from="" statement="" 2,="" we="" know="" that="" z="" /> amount paid for Product Y. We still don't know the exact values of 'x', 'y', and 'z', but we can say the following:
- The sum of x and y is less than $300,000 (from statement 1).
- The amount paid for z is more than the amount paid for y (from statement 2).
So, it's possible that the trader paid more than $200,000 for Product Z, but we can't be sure. However, we know for sure that the trader didn't pay more than $300,000 for Product Z. Therefore, statements 1 and 2 together are sufficient to answer the question, but neither statement alone is sufficient.
Hence, the correct answer is option (c).
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Community Answer
A trader purchased three products - Product X, Product Y, and Product ...
We are given that the amount spent on buying Product X, Product Y, and Product Z is $500,000.
Say the amounts spent on buying Product X, Product Y, and Product Z are x,y, and z, respectively.
⇒ x + y + z = 500,000 (Equation 1)
We have to determine whether z>200,000.
Statement 1:
We are given that the sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.
⇒ x + y = 3x
y = 2x (Equation 2)
y = 2x (Equation 2)
Substituting equation (2) in equation (1):
⇒ x + 2x + z = 500,000
⇒ 3x + z = 500,000
We have an unknown x. So, we cannot determine whether z > 200,000. Insufficient!
⇒ 3x + z = 500,000
We have an unknown x. So, we cannot determine whether z > 200,000. Insufficient!
Statement 2:
We are given that the trader paid more to purchase Product Z than to purchase Product Y.
⇒ z > y (Inequality 3)
With the help of equation (1): x + y + z = 500,000 and inequality (3): z > y, we cannot determine whether z > 200,000. Insufficient!
Statement 1 & 2 together:
Let's put down the two equations (1) and (2) and the inequality (3).
x + y + z = 500,000 (Equation 1)
y = 2x (Equation 2)
z > y (Inequality 3)
Since equation (3) has only z and y variables, let's eliminate variable x from equation (1) and (2).
From equation (2), we have x = y/2. By plugging in the value x in equation (1), we get:
y/2 + y + z = 500,000
y + 2y + 2z = 1,000,000
3y + 2z = 1,000,000 (Equation 4)
y + 2y + 2z = 1,000,000
3y + 2z = 1,000,000 (Equation 4)
Substituting (5) in (3):
5z > 1,000,000
z > 200,000
So, the answer is 'Yes'. The two statements together are sufficient!
z > 200,000
So, the answer is 'Yes'. The two statements together are sufficient!
Alternate approach:
Alternate way of solving further after Equation (4): 3y + 2z = 1,000,000
Let's assume that y = z, and see what are their values. Say y = z = p
Thus, 3p+2p = 1,000,000
⇒5p = 1,000,000
⇒p = 200,000
Thus, y = z = 200,000;
Let's assume that y = z, and see what are their values. Say y = z = p
Thus, 3p+2p = 1,000,000
⇒5p = 1,000,000
⇒p = 200,000
Thus, y = z = 200,000;
However, this goes against the fact given in inequality (3): z > y.
Thus, y < 200,000 & z > 200,000. The answer is 'Yes'. Sufficient!
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A trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. Can you explain this answer?
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A trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. 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 trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. 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 trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. Can you explain this answer?.
A trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. 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 trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. 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 trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. Can you explain this answer?.
Solutions for A trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for GMAT.
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Here you can find the meaning of A trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
A trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. Can you explain this answer?, a detailed solution for A trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of A trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A trader purchased three products - Product X, Product Y, and Product Z - for a sum of $500,000. Did the trader pay more than $200,000 for Product Z?(1) The sum the trader paid for Product X and Product Y combined was 3 times the sum the trader paid for Product X.(2) The trader paid more to purchase Product Z than to purchase Product Y.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;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 are needed.Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice GMAT tests.
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