The total manufacturing cost of product P is equal to the sum of product Ps fixed cost and line cost. If the line cost of manufacturing P decreased by 10% in March compared to previous month, by what percent did the total cost of manufacturing product P change in that March over the previous month?(1) The fixed cost of manufacturing product P increased by 15% in March compared to previous month.(2) Before the changes in March, the fixed cost of manufacturing product P was 10 times the line cost of manufacturing product P.a)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 'C'. Can you explain this answer?

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The total manufacturing cost of product P is equal to the sum of product P's fixed cost and line cost. If the line cost of manufacturing P decreased by 10% in March compared to previous month, by what percent did the total cost of manufacturing product P change in that March over the previous month?

(1) The fixed cost of manufacturing product P increased by 15% in March compared to previous month.
(2) Before the changes in March, the fixed cost of manufacturing product P was 10 times the line cost of manufacturing product P.

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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The total manufacturing cost of product P is equal to the sum of produ...

To determine the percent change in the total cost of manufacturing product P in March compared to the previous month, we need to consider the information provided in both statements.

Let's analyze each statement:

Statement (1): The fixed cost of manufacturing product P increased by 15% in March compared to the previous month.

This statement provides information about the change in the fixed cost but doesn't provide any information about the line cost or the total cost. It alone is not sufficient to calculate the percent change in the total cost.

Statement (2): Before the changes in March, the fixed cost of manufacturing product P was 10 times the line cost of manufacturing product P.

This statement establishes a relationship between the fixed cost and the line cost, stating that the fixed cost is 10 times the line cost. However, it doesn't provide any information about the changes in costs between the two months. It alone is not sufficient to calculate the percent change in the total cost.

When we consider both statements together, we can combine the information to determine the percent change in the total cost. Since statement (1) tells us that the fixed cost increased by 15%, and statement (2) tells us the relationship between the fixed cost and the line cost, we can use this information to calculate the percent change in the total cost.

Therefore, both statements together are sufficient to answer the question, but neither statement alone is sufficient. The correct answer is C: BOTH statements (1) and (2) TOGETHER are sufficient to answer the question asked, but NEITHER statement ALONE is sufficient.

Answered by Talent Skill Learning · View profile

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The total manufacturing cost of product P is equal to the sum of product Ps fixed cost and line cost. If the line cost of manufacturing P decreased by 10% in March compared to previous month, by what percent did the total cost of manufacturing product P change in that March over the previous month?(1) The fixed cost of manufacturing product P increased by 15% in March compared to previous month.(2) Before the changes in March, the fixed cost of manufacturing product P was 10 times the line cost of manufacturing product P.a)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 'C'. Can you explain this answer?

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The total manufacturing cost of product P is equal to the sum of product Ps fixed cost and line cost. If the line cost of manufacturing P decreased by 10% in March compared to previous month, by what percent did the total cost of manufacturing product P change in that March over the previous month?(1) The fixed cost of manufacturing product P increased by 15% in March compared to previous month.(2) Before the changes in March, the fixed cost of manufacturing product P was 10 times the line cost of manufacturing product P.a)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 '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 The total manufacturing cost of product P is equal to the sum of product Ps fixed cost and line cost. If the line cost of manufacturing P decreased by 10% in March compared to previous month, by what percent did the total cost of manufacturing product P change in that March over the previous month?(1) The fixed cost of manufacturing product P increased by 15% in March compared to previous month.(2) Before the changes in March, the fixed cost of manufacturing product P was 10 times the line cost of manufacturing product P.a)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 '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 The total manufacturing cost of product P is equal to the sum of product Ps fixed cost and line cost. If the line cost of manufacturing P decreased by 10% in March compared to previous month, by what percent did the total cost of manufacturing product P change in that March over the previous month?(1) The fixed cost of manufacturing product P increased by 15% in March compared to previous month.(2) Before the changes in March, the fixed cost of manufacturing product P was 10 times the line cost of manufacturing product P.a)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 'C'. Can you explain this answer?.

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