Last Friday a shop sold 3/4 of the sweaters in its inventory. Each sweater sold for $20. What was the total revenue last friday from the sale of these sweaters?
(1) When the shop opened last friday, there were 160 sweaters in its inventory.
(2) All but 40 sweaters in the shop's inventory were sold last friday.
A. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C. BOTH statements TOGETHER are suffcient, but NEITHER statement alone is sufficient.
D. EACH statement ALONE is sufficient
E. Statements (1) and (2) TOGETHER are NOT sufficient.
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Statement (1) combined with data from the question is sufficient to provide an exact answer. In fact we know that 3/4 of 160 sweaters were sold for 20$ each.
Statement (2) also says indirectly how many sweaters were sold. We now know that 40 unsold sweaters correspond to 1-3/4 of the initial inventory that friday. From that we would easily conclude that 120 sweaters were sold. But note that our reasoning here, evaluating the suffientness of statement (2), MUST NOT make use of the number 160 provided by statement (1).
Finally, with both statements sufficient by their own, we should take option (D)
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