A car dealership sold two cars: the first car at a 10% : GMAT Problem Solving (PS)
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# A car dealership sold two cars: the first car at a 10%

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A car dealership sold two cars: the first car at a 10% [#permalink]

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17 Mar 2012, 03:18
00:00

Difficulty:

45% (medium)

Question Stats:

65% (02:12) correct 35% (02:28) wrong based on 20 sessions

A car dealership sold two cars: the first car at a 10% profit and the second car at a 10% loss, which gave them an overall profit margin of 5% from these two sales. If the dealership's total profit was $1000, what was the sale price of each car? A)$5,000 and $1,000 B)$9,000 and $5,000 C)$11,000 and $9,000 D)$15,000 and $5,000 E)$20,000 and $10,000 Again - I struggle to solve this question using back-solving as described in gmatclub test m03. Any idea how to do it algebraically? I tried doing it this way but got stuck: Let say Cost Price of 1st car = x & Cost Price of 2nd car = y SP of 1st car = 1.1x -----------------------------------------(1) SP of 2nd car = 0.9 y ----------------------------------------(2) Profit = S.P - C.P I can use (1.1. x - x ) + (0.9y -y) -----------> But this is not possible. Please help. [Reveal] Spoiler: OA _________________ Best Regards, E. MGMAT 1 --> 530 MGMAT 2--> 640 MGMAT 3 ---> 610 GMAT ==> 730 Math Expert Joined: 02 Sep 2009 Posts: 36545 Followers: 7075 Kudos [?]: 93078 [0], given: 10542 Re: A car dealership sold two cars: the first car at a 10% [#permalink] ### Show Tags 17 Mar 2012, 03:33 enigma123 wrote: A car dealership sold two cars: the first car at a 10% profit and the second car at a 10% loss, which gave them an overall profit margin of 5% from these two sales. If the dealership's total profit was$1000, what was the sale price of each car?

A) $5,000 and$1,000
B) $9,000 and$5,000
C) $11,000 and$9,000
D) $15,000 and$5,000
E) $20,000 and$10,000

Again - I struggle to solve this question using back-solving as described in gmatclub test m03. Any idea how to do it algebraically?

I tried doing it this way but got stuck:

Let say Cost Price of 1st car = x & Cost Price of 2nd car = y

SP of 1st car = 1.1x -----------------------------------------(1)

SP of 2nd car = 0.9 y ----------------------------------------(2)

Profit = S.P - C.P

I can use

This question is discussed here: a-car-dealership-sold-two-cars-the-first-car-at-a-100287.html#p773703

Notice that the question needs a revision (read Ian's and my posts about it).
_________________
Re: A car dealership sold two cars: the first car at a 10%   [#permalink] 17 Mar 2012, 03:33
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