GRE Prep Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
GRE Prep Club Team Member
Joined: 20 Feb 2017
Posts: 2506
Given Kudos: 1055
GPA: 3.39
A used car dealer sold one car at a profit of 25 percent of the dealer
[#permalink]
15 Dec 2022, 08:02
15 Dec 2022, 08:02
Expert Reply
00:00
Question Stats:
100% (01:04) correct
0% (00:00) wrong based on 1 sessions
Hide Show timer Statistics
A used car dealer sold one car at a profit of 25 percent of the dealers purchase price for that car and sold another car at a loss of 20 percent of the dealers purchase price for that car. If the dealer sold each car for $20,000 , what was the dealers total profit or loss, in dollars, for the two transactions combined?
A. 1000 profit
B. 2000 profit
C. 1000 loss
D. 2000 loss
E. 3334 loss
A. 1000 profit
B. 2000 profit
C. 1000 loss
D. 2000 loss
E. 3334 loss
GRE Prep Club Team Member
Joined: 20 Feb 2017
Posts: 2506
Given Kudos: 1055
GPA: 3.39
Re: A used car dealer sold one car at a profit of 25 percent of the dealer
[#permalink]
16 Dec 2022, 20:32
16 Dec 2022, 20:32
Expert Reply
car 1 :
P1*1.25 = 20000
P1 = 16000
car2
P2*0.8 = 20000
P2 = 25000
P1+P2 = 41000
Final sale = 40000
1000 loss
Answer: C
P1*1.25 = 20000
P1 = 16000
car2
P2*0.8 = 20000
P2 = 25000
P1+P2 = 41000
Final sale = 40000
1000 loss
Answer: C
gmatclubot
Re: A used car dealer sold one car at a profit of 25 percent of the dealer [#permalink]
16 Dec 2022, 20:32
Moderators:
