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A car dealer purchased a used car, marked it up to make a 20 percent p
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21 Feb 2021, 10:43
21 Feb 2021, 10:43
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A car dealer purchased a used car, marked it up to make a 20 percent profit, and then sold it at a 20 percent discount from the sticker price.
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Kudos for the right answer and explanation
Question part of the project GRE Quantitative Reasoning Daily Challenge - (2021) EDITION
GRE - Math Book
Quantity A |
Quantity B |
The amount that the dealer paid for the car, before taxes and fees |
The amount for which the dealer sold the car, before taxes and fees |
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
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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A car dealer purchased a used car, marked it up to make a 20 percent p
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21 Feb 2021, 11:45
21 Feb 2021, 11:45
1
Carcass wrote:
A car dealer purchased a used car, marked it up to make a 20 percent profit, and then sold it at a 20 percent discount from the sticker price.
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Quantity A |
Quantity B |
The amount that the dealer paid for the car, before taxes and fees |
The amount for which the dealer sold the car, before taxes and fees |
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Let the price of car be \(x\)
After adding 20% Profit, price of car = \(1.2x\)
After giving a discount of 20%, price of car = \((0.8)(1.2x) = 0.96x\)
Col. A: \(1x\)
Col. B: \(0.96x\)
Col. A > Col. B
Hence, option A
Re: A car dealer purchased a used car, marked it up to make a 20 percent p
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27 Apr 2021, 03:46
27 Apr 2021, 03:46
1
I find the quickest, most simple, and surefire way to successfully nail these problems, where starting amounts are not given, is to start with a sale price of $100. The math is very easy and comparing the amounts is crisp and clear.
Dealer purchased the car for $100.
Dealer marked the car up to $100*(120/100) = $120.
Dealer sold the car for $120*(80/100) = $96
Compare 100 to 96. Choice A.
Dealer purchased the car for $100.
Dealer marked the car up to $100*(120/100) = $120.
Dealer sold the car for $120*(80/100) = $96
Compare 100 to 96. Choice A.
