Explanation
Let's dive right into the statements, evaluating them
separately first. If Chris' earnings amounted to x dollars, then statement (1) says that he spent
. After doing so, he'll have
dollars. He saved
of
that, so the amount he saved was
. And we are told that the amount that he
saved was $400, so we know
That's an equation with one variable, so
it's solvable for x. So Statement (1)
is sufficient. Turning to Statement (2): it is not so generous with information.
It doesn't even mention earnings--what we are looking for. It introduces an
irrelevant comparison between his savings and loan payments, which we know
nothing about. If we wrote an equation, it would have a bunch of variables, not
one. So this statement is insufficient.
The correct answer is (A).
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