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.
A used car dealer sold a sedan for $2,400, a price that was equal to t
[#permalink]
27 Oct 2021, 05:35
27 Oct 2021, 05:35
Expert Reply
00:00
Question Stats:
63% (01:05) correct
36% (00:55) wrong based on 11 sessions
Hide Show timer Statistics
A used car dealer sold a sedan for $2,400, a price that was equal to the price he paid for the sedan plus a markup of 20% of the price he paid for the sedan. What was the price the dealer paid for the sedan?
(A) $400
(B) $480
(C) $1,920
(D) $2,000
(E) $2,200
See more on these concepts our GRE Quant Book and the GRE Math Essentials project
(A) $400
(B) $480
(C) $1,920
(D) $2,000
(E) $2,200
See more on these concepts our GRE Quant Book and the GRE Math Essentials project
GRE Prep Club Team Member
Joined: 20 Feb 2017
Posts: 2505
Given Kudos: 1055
GPA: 3.39
Re: A used car dealer sold a sedan for $2,400, a price that was equal to t
[#permalink]
03 Nov 2021, 05:46
03 Nov 2021, 05:46
Expert Reply
+1 Kudos to posts containing answer with explanation
A used car dealer sold a sedan for $2,400, a price that was equal to t
[#permalink]
27 Jan 2022, 23:39
27 Jan 2022, 23:39
2
Let x = Original price of sedan bought by dealer
20% Markup = 1 + .2 = 1.2
Selling Price = $2,400
The price the dealer paid for the sedan marked up by 20%, leading to a selling price of $2,400:
x(1.2) = $2,400
Divide both sides by 1.2:
$2,400/1.2 = x
x = $2,000
Answer D
20% Markup = 1 + .2 = 1.2
Selling Price = $2,400
The price the dealer paid for the sedan marked up by 20%, leading to a selling price of $2,400:
x(1.2) = $2,400
Divide both sides by 1.2:
$2,400/1.2 = x
x = $2,000
Answer D
