WE CAN REWRITE THE INFORMATION IN THE QUESTION AS AN EQUATION REPR...
33. We can rewrite the information in the question as an equation
representing the T, the total dollar value of the sale:
L + M + S = T
L = the dollar amount received by the partner with the largest share
M = the dollar amount received by the partner with the middle
(second largest) share
S = the dollar amount received by the partner with the smallest
share
We are also told in the question that L = (5/8)T. Thus we can
rewrite the equation as follows:
(5/8)T + M + S = T.
Since the question asks us the value of S, we can simplify the
equation again as follows:
S = M + (3/8)T
Thus, in order to solve for S, we will need to determine the value of
both M and T. The question can be rephrased as, what is the value
of M + (3/8)T?
(1) NOT SUFFICIENT: The first statement tells us that S = (1/5)M.
This gives us no information about T so statement one alone is not
sufficient.
(2) SUFFICIENT: The second statement tells us that M = (1/2)L =
$1 million. Additionally, since we know from the question that L =
(5/8)T, then M must be equal to 1/2 of 5/8(T) or 5/16(T). We can
therefore solve for T as follows:
5
M = $1,000,000 =
T
16
$3,200,000 = T
We can now easily solve for S:
2 million + 1 million + S = $3.2 million
S = .2 million
Therefore, statement (2) alone is sufficient. The correct answer is B.