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.