The average price of the three items is 150. The cost of the lowest price item is 140. Is the price of any item greater than 155? (There can be two items at the same price)
Statement 1: The cost of the other two items is greater than the average price.
Statement 2: The cost price of the other two items is not equal.
Solution
Given that the average price of three items is 150. So, the sum of the prices of the three items is 150 * 3 = 450.
We are given the cost of the lowest price item as 140. So, the sum of prices of the other two items can be given as 450 - 140 = 310.
Statement 1:
It is given that both the prices are greater than the average price. So, the prices of items can be anything from (151, 159) to (155, 155) as we are given that both the prices are greater than 150 and the sum of them has to be 310. We can see that in one case (155, 155), the highest price is not greater than 155, and in all the other cases, the highest price is greater than 155. So, we cannot determine whether the highest price is greater than 155 or not using this statement alone.
Statement 2:
It is given that the prices of the other two items are not equal. So, the prices of items can be anything from (141, 169) to (154, 156) as we are given that both the prices are not equal and the sum of them has to be 310. We can see that in all the cases, the highest price is greater than 155. So, we can determine that the highest price is greater than 155 if both prices are not equal.
Statement 2 alone is sufficient to answer the question, while Statement 1 alone is not.
The correct answer is option B.
