DSQ: Calculating profit - GMAT Quantitative
Card 1 of 32
An amusement park sells Children and Adult tickets. What was the total revenue for the day?
Statement 1: The amusement park sold 259 Children tickets and 345 Adult tickets.
Statement 2: Children tickets cost $32 and Adult tickets cost $45.
An amusement park sells Children and Adult tickets. What was the total revenue for the day?
Statement 1: The amusement park sold 259 Children tickets and 345 Adult tickets.
Statement 2: Children tickets cost $32 and Adult tickets cost $45.
Tap to reveal answer
Statement 1 gives us the number of tickets sold but not the price. Insufficient.
Statement 2 gives us the price of the tickets but not the number sold. Insufficient.
Together, the two statements give us both the number of tickets sold AND the price of each ticket. From this we can calculate the total revenue.
Note: We are only trying to determine if we have enough information to answer the question. We don't have to actually do the computations!
Statement 1 gives us the number of tickets sold but not the price. Insufficient.
Statement 2 gives us the price of the tickets but not the number sold. Insufficient.
Together, the two statements give us both the number of tickets sold AND the price of each ticket. From this we can calculate the total revenue.
Note: We are only trying to determine if we have enough information to answer the question. We don't have to actually do the computations!
← Didn't Know|Knew It →
How much money did Mary make this week?
Statement 1: Mary worked 40 hours of regular time and an additional 6 hours of overtime.
Statement 2: Mary made $30 an hour during normal working hours and $37 an hour during overtime.
How much money did Mary make this week?
Statement 1: Mary worked 40 hours of regular time and an additional 6 hours of overtime.
Statement 2: Mary made $30 an hour during normal working hours and $37 an hour during overtime.
Tap to reveal answer
We need both statements to find out how much money Mary made.
Statement 1 gives the type and number of hours, and statement 2 gives the amount she made per hour. Both together are sufficient, but neither is sufficient alone.
We need both statements to find out how much money Mary made.
Statement 1 gives the type and number of hours, and statement 2 gives the amount she made per hour. Both together are sufficient, but neither is sufficient alone.
← Didn't Know|Knew It →
Jorge runs a business making picture frames.
I) Jorge made 
in gross profit last year, 
more than the previous year.
II) Jorge had a profit margin of 
.
What was Jorge's net profit?
Jorge runs a business making picture frames.
I) Jorge made
II) Jorge had a profit margin of
What was Jorge's net profit?
Tap to reveal answer
Ignore the comment about 15% more than the previous year. We want to find net profit and in statement one we are given the gross profit. Statement II gives us the profit margin or percent profit.
We can use percent profit and gross profit to find net profit, but we cannot do it with only I or only II. Thus, they are both needed.
Ignore the comment about 15% more than the previous year. We want to find net profit and in statement one we are given the gross profit. Statement II gives us the profit margin or percent profit.
We can use percent profit and gross profit to find net profit, but we cannot do it with only I or only II. Thus, they are both needed.
← Didn't Know|Knew It →
An online store sells costum computers. Find the profit the store made on a 
sale.
I) The computer cost the store 
to build.
II) The store generally makes a 
profit.
An online store sells costum computers. Find the profit the store made on a
I) The computer cost the store
II) The store generally makes a
Tap to reveal answer
To find the profit, we either need to know the cost or the percent profit.
I) Gives us the cost.
II) Gives us the percent profit.
Either of these can be used to find profit.
To find the profit, we either need to know the cost or the percent profit.
I) Gives us the cost.
II) Gives us the percent profit.
Either of these can be used to find profit.
← Didn't Know|Knew It →
An amusement park sells Children and Adult tickets. What was the total revenue for the day?
Statement 1: The amusement park sold 259 Children tickets and 345 Adult tickets.
Statement 2: Children tickets cost $32 and Adult tickets cost $45.
An amusement park sells Children and Adult tickets. What was the total revenue for the day?
Statement 1: The amusement park sold 259 Children tickets and 345 Adult tickets.
Statement 2: Children tickets cost $32 and Adult tickets cost $45.
Tap to reveal answer
Statement 1 gives us the number of tickets sold but not the price. Insufficient.
Statement 2 gives us the price of the tickets but not the number sold. Insufficient.
Together, the two statements give us both the number of tickets sold AND the price of each ticket. From this we can calculate the total revenue.
Note: We are only trying to determine if we have enough information to answer the question. We don't have to actually do the computations!
Statement 1 gives us the number of tickets sold but not the price. Insufficient.
Statement 2 gives us the price of the tickets but not the number sold. Insufficient.
Together, the two statements give us both the number of tickets sold AND the price of each ticket. From this we can calculate the total revenue.
Note: We are only trying to determine if we have enough information to answer the question. We don't have to actually do the computations!
← Didn't Know|Knew It →
How much money did Mary make this week?
Statement 1: Mary worked 40 hours of regular time and an additional 6 hours of overtime.
Statement 2: Mary made $30 an hour during normal working hours and $37 an hour during overtime.
How much money did Mary make this week?
Statement 1: Mary worked 40 hours of regular time and an additional 6 hours of overtime.
Statement 2: Mary made $30 an hour during normal working hours and $37 an hour during overtime.
Tap to reveal answer
We need both statements to find out how much money Mary made.
Statement 1 gives the type and number of hours, and statement 2 gives the amount she made per hour. Both together are sufficient, but neither is sufficient alone.
We need both statements to find out how much money Mary made.
Statement 1 gives the type and number of hours, and statement 2 gives the amount she made per hour. Both together are sufficient, but neither is sufficient alone.
← Didn't Know|Knew It →
Jorge runs a business making picture frames.
I) Jorge made in gross profit last year, more than the previous year.
II) Jorge had a profit margin of .
What was Jorge's net profit?
Jorge runs a business making picture frames.
I) Jorge made
II) Jorge had a profit margin of
What was Jorge's net profit?
Tap to reveal answer
Ignore the comment about 15% more than the previous year. We want to find net profit and in statement one we are given the gross profit. Statement II gives us the profit margin or percent profit.
We can use percent profit and gross profit to find net profit, but we cannot do it with only I or only II. Thus, they are both needed.
Ignore the comment about 15% more than the previous year. We want to find net profit and in statement one we are given the gross profit. Statement II gives us the profit margin or percent profit.
We can use percent profit and gross profit to find net profit, but we cannot do it with only I or only II. Thus, they are both needed.
← Didn't Know|Knew It →
An online store sells costum computers. Find the profit the store made on a sale.
I) The computer cost the store to build.
II) The store generally makes a profit.
An online store sells costum computers. Find the profit the store made on a
I) The computer cost the store
II) The store generally makes a
Tap to reveal answer
To find the profit, we either need to know the cost or the percent profit.
I) Gives us the cost.
II) Gives us the percent profit.
Either of these can be used to find profit.
To find the profit, we either need to know the cost or the percent profit.
I) Gives us the cost.
II) Gives us the percent profit.
Either of these can be used to find profit.
← Didn't Know|Knew It →
An amusement park sells Children and Adult tickets. What was the total revenue for the day?
Statement 1: The amusement park sold 259 Children tickets and 345 Adult tickets.
Statement 2: Children tickets cost $32 and Adult tickets cost $45.
An amusement park sells Children and Adult tickets. What was the total revenue for the day?
Statement 1: The amusement park sold 259 Children tickets and 345 Adult tickets.
Statement 2: Children tickets cost $32 and Adult tickets cost $45.
Tap to reveal answer
Statement 1 gives us the number of tickets sold but not the price. Insufficient.
Statement 2 gives us the price of the tickets but not the number sold. Insufficient.
Together, the two statements give us both the number of tickets sold AND the price of each ticket. From this we can calculate the total revenue.
Note: We are only trying to determine if we have enough information to answer the question. We don't have to actually do the computations!
Statement 1 gives us the number of tickets sold but not the price. Insufficient.
Statement 2 gives us the price of the tickets but not the number sold. Insufficient.
Together, the two statements give us both the number of tickets sold AND the price of each ticket. From this we can calculate the total revenue.
Note: We are only trying to determine if we have enough information to answer the question. We don't have to actually do the computations!
← Didn't Know|Knew It →
How much money did Mary make this week?
Statement 1: Mary worked 40 hours of regular time and an additional 6 hours of overtime.
Statement 2: Mary made $30 an hour during normal working hours and $37 an hour during overtime.
How much money did Mary make this week?
Statement 1: Mary worked 40 hours of regular time and an additional 6 hours of overtime.
Statement 2: Mary made $30 an hour during normal working hours and $37 an hour during overtime.
Tap to reveal answer
We need both statements to find out how much money Mary made.
Statement 1 gives the type and number of hours, and statement 2 gives the amount she made per hour. Both together are sufficient, but neither is sufficient alone.
We need both statements to find out how much money Mary made.
Statement 1 gives the type and number of hours, and statement 2 gives the amount she made per hour. Both together are sufficient, but neither is sufficient alone.
← Didn't Know|Knew It →
Jorge runs a business making picture frames.
I) Jorge made in gross profit last year, more than the previous year.
II) Jorge had a profit margin of .
What was Jorge's net profit?
Jorge runs a business making picture frames.
I) Jorge made
II) Jorge had a profit margin of
What was Jorge's net profit?
Tap to reveal answer
Ignore the comment about 15% more than the previous year. We want to find net profit and in statement one we are given the gross profit. Statement II gives us the profit margin or percent profit.
We can use percent profit and gross profit to find net profit, but we cannot do it with only I or only II. Thus, they are both needed.
Ignore the comment about 15% more than the previous year. We want to find net profit and in statement one we are given the gross profit. Statement II gives us the profit margin or percent profit.
We can use percent profit and gross profit to find net profit, but we cannot do it with only I or only II. Thus, they are both needed.
← Didn't Know|Knew It →
An online store sells costum computers. Find the profit the store made on a sale.
I) The computer cost the store to build.
II) The store generally makes a profit.
An online store sells costum computers. Find the profit the store made on a
I) The computer cost the store
II) The store generally makes a
Tap to reveal answer
To find the profit, we either need to know the cost or the percent profit.
I) Gives us the cost.
II) Gives us the percent profit.
Either of these can be used to find profit.
To find the profit, we either need to know the cost or the percent profit.
I) Gives us the cost.
II) Gives us the percent profit.
Either of these can be used to find profit.
← Didn't Know|Knew It →
An amusement park sells Children and Adult tickets. What was the total revenue for the day?
Statement 1: The amusement park sold 259 Children tickets and 345 Adult tickets.
Statement 2: Children tickets cost $32 and Adult tickets cost $45.
An amusement park sells Children and Adult tickets. What was the total revenue for the day?
Statement 1: The amusement park sold 259 Children tickets and 345 Adult tickets.
Statement 2: Children tickets cost $32 and Adult tickets cost $45.
Tap to reveal answer
Statement 1 gives us the number of tickets sold but not the price. Insufficient.
Statement 2 gives us the price of the tickets but not the number sold. Insufficient.
Together, the two statements give us both the number of tickets sold AND the price of each ticket. From this we can calculate the total revenue.
Note: We are only trying to determine if we have enough information to answer the question. We don't have to actually do the computations!
Statement 1 gives us the number of tickets sold but not the price. Insufficient.
Statement 2 gives us the price of the tickets but not the number sold. Insufficient.
Together, the two statements give us both the number of tickets sold AND the price of each ticket. From this we can calculate the total revenue.
Note: We are only trying to determine if we have enough information to answer the question. We don't have to actually do the computations!
← Didn't Know|Knew It →
How much money did Mary make this week?
Statement 1: Mary worked 40 hours of regular time and an additional 6 hours of overtime.
Statement 2: Mary made $30 an hour during normal working hours and $37 an hour during overtime.
How much money did Mary make this week?
Statement 1: Mary worked 40 hours of regular time and an additional 6 hours of overtime.
Statement 2: Mary made $30 an hour during normal working hours and $37 an hour during overtime.
Tap to reveal answer
We need both statements to find out how much money Mary made.
Statement 1 gives the type and number of hours, and statement 2 gives the amount she made per hour. Both together are sufficient, but neither is sufficient alone.
We need both statements to find out how much money Mary made.
Statement 1 gives the type and number of hours, and statement 2 gives the amount she made per hour. Both together are sufficient, but neither is sufficient alone.
← Didn't Know|Knew It →
Jorge runs a business making picture frames.
I) Jorge made in gross profit last year, more than the previous year.
II) Jorge had a profit margin of .
What was Jorge's net profit?
Jorge runs a business making picture frames.
I) Jorge made
II) Jorge had a profit margin of
What was Jorge's net profit?
Tap to reveal answer
Ignore the comment about 15% more than the previous year. We want to find net profit and in statement one we are given the gross profit. Statement II gives us the profit margin or percent profit.
We can use percent profit and gross profit to find net profit, but we cannot do it with only I or only II. Thus, they are both needed.
Ignore the comment about 15% more than the previous year. We want to find net profit and in statement one we are given the gross profit. Statement II gives us the profit margin or percent profit.
We can use percent profit and gross profit to find net profit, but we cannot do it with only I or only II. Thus, they are both needed.
← Didn't Know|Knew It →
An online store sells costum computers. Find the profit the store made on a sale.
I) The computer cost the store to build.
II) The store generally makes a profit.
An online store sells costum computers. Find the profit the store made on a
I) The computer cost the store
II) The store generally makes a
Tap to reveal answer
To find the profit, we either need to know the cost or the percent profit.
I) Gives us the cost.
II) Gives us the percent profit.
Either of these can be used to find profit.
To find the profit, we either need to know the cost or the percent profit.
I) Gives us the cost.
II) Gives us the percent profit.
Either of these can be used to find profit.
← Didn't Know|Knew It →
An amusement park sells Children and Adult tickets. What was the total revenue for the day?
Statement 1: The amusement park sold 259 Children tickets and 345 Adult tickets.
Statement 2: Children tickets cost $32 and Adult tickets cost $45.
An amusement park sells Children and Adult tickets. What was the total revenue for the day?
Statement 1: The amusement park sold 259 Children tickets and 345 Adult tickets.
Statement 2: Children tickets cost $32 and Adult tickets cost $45.
Tap to reveal answer
Statement 1 gives us the number of tickets sold but not the price. Insufficient.
Statement 2 gives us the price of the tickets but not the number sold. Insufficient.
Together, the two statements give us both the number of tickets sold AND the price of each ticket. From this we can calculate the total revenue.
Note: We are only trying to determine if we have enough information to answer the question. We don't have to actually do the computations!
Statement 1 gives us the number of tickets sold but not the price. Insufficient.
Statement 2 gives us the price of the tickets but not the number sold. Insufficient.
Together, the two statements give us both the number of tickets sold AND the price of each ticket. From this we can calculate the total revenue.
Note: We are only trying to determine if we have enough information to answer the question. We don't have to actually do the computations!
← Didn't Know|Knew It →
How much money did Mary make this week?
Statement 1: Mary worked 40 hours of regular time and an additional 6 hours of overtime.
Statement 2: Mary made $30 an hour during normal working hours and $37 an hour during overtime.
How much money did Mary make this week?
Statement 1: Mary worked 40 hours of regular time and an additional 6 hours of overtime.
Statement 2: Mary made $30 an hour during normal working hours and $37 an hour during overtime.
Tap to reveal answer
We need both statements to find out how much money Mary made.
Statement 1 gives the type and number of hours, and statement 2 gives the amount she made per hour. Both together are sufficient, but neither is sufficient alone.
We need both statements to find out how much money Mary made.
Statement 1 gives the type and number of hours, and statement 2 gives the amount she made per hour. Both together are sufficient, but neither is sufficient alone.
← Didn't Know|Knew It →
Jorge runs a business making picture frames.
I) Jorge made in gross profit last year, more than the previous year.
II) Jorge had a profit margin of .
What was Jorge's net profit?
Jorge runs a business making picture frames.
I) Jorge made
II) Jorge had a profit margin of
What was Jorge's net profit?
Tap to reveal answer
Ignore the comment about 15% more than the previous year. We want to find net profit and in statement one we are given the gross profit. Statement II gives us the profit margin or percent profit.
We can use percent profit and gross profit to find net profit, but we cannot do it with only I or only II. Thus, they are both needed.
Ignore the comment about 15% more than the previous year. We want to find net profit and in statement one we are given the gross profit. Statement II gives us the profit margin or percent profit.
We can use percent profit and gross profit to find net profit, but we cannot do it with only I or only II. Thus, they are both needed.
← Didn't Know|Knew It →
An online store sells costum computers. Find the profit the store made on a sale.
I) The computer cost the store to build.
II) The store generally makes a profit.
An online store sells costum computers. Find the profit the store made on a
I) The computer cost the store
II) The store generally makes a
Tap to reveal answer
To find the profit, we either need to know the cost or the percent profit.
I) Gives us the cost.
II) Gives us the percent profit.
Either of these can be used to find profit.
To find the profit, we either need to know the cost or the percent profit.
I) Gives us the cost.
II) Gives us the percent profit.
Either of these can be used to find profit.
← Didn't Know|Knew It →