Question

A clothing store acquired an item at a cost of x dollars and sold the item for y dollars. The store's gross profit from the item was what percent of its cost for the item?
(1) $y-x=20$
(2)$\frac{y}{x}=\frac{5}{4}$

• A. Statement (1) alone is sufficient, but statement (2) alone is not sufficient.
• B. Statement (2) alone is sufficient, but statement (1) alone is not sufficient.
• C. Both statements together are sufficient, but neither statement alone is sufficient.
• D. Each statement alone is sufficient.
• E. Statements (1) and (2) together are not sufficient.

Answer 1

The correct option is B Statement (2) alone is sufficient, but statement (1) alone is not sufficient.

1. If the cost of an item of clothing is $x$ and the selling price of the item is $y$, determine the value of as a percent.
2. Although $y-x=20$, there is no information to determine the value of $x$ and therefore no way to determine the value of . Thus, not sufficient.
3. Since , and so which is $25$ percent. Thus, is sufficient.