This GMAT 550-600 level quant practice question is a data sufficiency question from percentage. Concept: Checking whether sufficient data is available to equate percent of sales to commission earned in value terms and arrive at a value for sales booked in a month.
This data sufficiency problem consists of a question and two statements, labeled (1) and (2), in which certain data are given. You have to decide whether the data given in the statements are sufficient for answering the question. Using the data given in the statements, plus your knowledge of mathematics and everyday facts (such as the number of days in a leap year or the meaning of the word counterclockwise), you must indicate whether -
All numbers used are real numbers.
A figure accompanying a data sufficiency question will conform to the information given in the question but will not necessarily conform to the additional information given in statements (1) and (2)
Lines shown as straight can be assumed to be straight and lines that appear jagged can also be assumed to be straight
You may assume that the positions of points, angles, regions, etc. exist in the order shown and that angle measures are greater than zero.
All figures lie in a plane unless otherwise indicated.
In data sufficiency problems that ask for the value of a quantity, the data given in the statement are sufficient only when it is possible to determine exactly one numerical value for the quantity.
Question 19: If a salesman received a commission of 3% of the sales that he has booked in a month, what was the sales booked by the salesman in the month of November 2003?
Statement 1: The sales booked by the salesman in the month of November 2003 minus salesman's commission was $245,000
From statement 1, we know the value of sales after the salesman's commission is subtracted.
From the question stem, we know his commission is 3% of the sales booked. Then value of sales after subtracting his commission is 100 − 3 = 97% of the sales booked.
Putting the two together, we can deduce that 97% of sales booked = $245,000. So we can find out the sales booked.
Statement 1 ALONE is SUFFICIENT.
Eliminate choices B, C, and E.
Answers narrow down to choices (A) or (D).
Statement 2: The selling price of the sales booked by the salesman in the month of November 2003 was 125 percent of the original purchase price of $225,000.
From statement 2, we know that the original purchase of the products is $225,000.
We can compute the sales booked as 125% of 225,000 = 1.25 × 225,000.
Statement 2 ALONE is SUFFICIENT.
Each statement is INDEPENDENTLY sufficient.
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