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A used-car dealer purchases used cars for prices ranging from $8,000-$
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10 Mar 2021, 06:37
10 Mar 2021, 06:37
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Question Stats:
85% (00:33) correct
14% (00:34) wrong based on 14 sessions
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A used-car dealer purchases used cars for prices ranging from $8,000-$10,000 and sells used cars for prices ranging from $12,000-$18,000. If the dealer sold 10 cars yesterday, what was the maximum profit that he could have earned on all 10 cars?
$20,000
$40,000
$64,000
$80,000
$100,000
Kudos for the right answer and explanation
Question part of the project GRE Quantitative Reasoning Daily Challenge - (2021) EDITION
GRE - Math Book
$20,000
$40,000
$64,000
$80,000
$100,000
Kudos for the right answer and explanation
Question part of the project GRE Quantitative Reasoning Daily Challenge - (2021) EDITION
GRE - Math Book
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Re: A used-car dealer purchases used cars for prices ranging from $8,000-$
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10 Mar 2021, 07:56
10 Mar 2021, 07:56
1
Carcass wrote:
A used-car dealer purchases used cars for prices ranging from $8,000-$10,000 and sells used cars for prices ranging from $12,000-$18,000. If the dealer sold 10 cars yesterday, what was the maximum profit that he could have earned on all 10 cars?
$20,000
$40,000
$64,000
$80,000
$100,000
$20,000
$40,000
$64,000
$80,000
$100,000
$8,000 < Purchase price of 1 car < $10,000
$12,000 < Selling price of 1 car < $18,000
Profit would be maximum when the Selling price is maximum, and the Purchase price as minimum
Maximum profit on 1 car = $18,000 - $8,000 = $10,000
Therefore, maximum profit on 10 cars = $100,000
Hence, option E
gmatclubot
Re: A used-car dealer purchases used cars for prices ranging from $8,000-$ [#permalink]
10 Mar 2021, 07:56
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