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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
  • 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 'E'. Can you explain this answer?
Most Upvoted Answer
If an item is purchased x percent less than its retail price, and then...
To determine the retail price of the item, we need to know both the percentage reduction in price during purchase (x) and the percentage reduction in price during sale (y). Let's analyze the given statements:
(1) x - y = 10
Statement (1) provides a relationship between x and y. However, it doesn't provide any specific values for x or y. Without knowing the actual values, we cannot determine the retail price of the item. Therefore, statement (1) alone is not sufficient.
(2) y = 5
Statement (2) only provides a specific value for y, which is 5. However, it doesn't provide any information about x or the retail price of the item. Without knowledge of x or additional information, we cannot determine the retail price. Therefore, statement (2) alone is not sufficient.
Combining both statements, we have the equation x - y = 10 and y = 5. However, we still don't have enough information about x or the retail price of the item. The relationship between x and y is not enough to determine the retail price. Therefore, both statements together are not sufficient.
Since neither statement alone nor both statements together provide enough information to determine the retail price of the item, the correct answer is option E. Additional data is needed to answer the question.
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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 = 5a)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question askedb)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question askedc)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficientd)EACH statement ALONE is sufficient to answer the question askede)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data are neededCorrect answer is option 'E'. Can you explain this answer?
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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 = 5a)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question askedb)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question askedc)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficientd)EACH statement ALONE is sufficient to answer the question askede)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data are neededCorrect 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 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 = 5a)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question askedb)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question askedc)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficientd)EACH statement ALONE is sufficient to answer the question askede)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data are neededCorrect 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 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 = 5a)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient to answer the question askedb)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient to answer the question askedc)BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficientd)EACH statement ALONE is sufficient to answer the question askede)Statements (1) and (2) TOGETHER are NOT sufficient to answer the question asked, and additional data are neededCorrect answer is option 'E'. Can you explain this answer?.
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