Multiple choice

At a bookstore, readers who buy 2 novels are charged the full price for the first book and a concession price for the second book. The bookstore's profit from selling 2 books equals the profit it makes from selling 1 book at the standard price. For a reader purchasing 2 books, what is the concession price of the second book? (1) The regular price of each of the 2 novels a customer purchases at the bookstore is \$10. (2) The cost to the bookstore for each of the 2 novels the customer buys is \$6.

  1. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.

  2. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.

  3. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.

  4. EACH statement ALONE is sufficient.

  5. Statements (1) and (2) TOGETHER are NOT sufficient.
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B Correct answer
AI explanation

The formula for profit is selling price minus cost, so the profit from selling one book is its regular price minus its cost. For two books, the total profit equals the first book's profit plus the second book's profit, which equals the concession price minus the cost. By setting the profit of one book equal to the total profit of two books, we find that the concession price minus the cost must equal zero. Therefore, the concession price is exactly equal to the cost of the book, meaning we only need the cost price to answer the question, which is provided by statement 2 alone. The result is statement 2 ALONE is sufficient, but statement 1 alone is not sufficient.

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