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# A used-car sold one car at a profit of 25 percent of the

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Manager
Joined: 05 Jul 2006
Posts: 198
Followers: 1

Kudos [?]: 20 [0], given: 0

A used-car sold one car at a profit of 25 percent of the [#permalink]  08 Sep 2006, 09:54
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Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 1 sessions
A used-car sold one car at a profit of 25 percent of the dealer's purchase price for that car and sold another car at a loss of 20 percent of the dealer's purchase price for that car. if the dealer sold each car for \$20,000, what was the dealer's total profit or loss, in dollars, for the two transactions combined?

1000 profit
2000 profit
1000 loss
2000 loss
3334 loss
CEO
Joined: 20 Nov 2005
Posts: 2913
Schools: Completed at SAID BUSINESS SCHOOL, OXFORD - Class of 2008
Followers: 18

Kudos [?]: 119 [0], given: 0

For 1st car
1.25 x = 20000
x = 20000*4/5 = 16000
Profit on 1st car = 4000

For second car
0.8x = 20000
x = 20000*5/4
x = 25000
Loss on 2nd car = 5000

Finally a loss of 1000
_________________

SAID BUSINESS SCHOOL, OXFORD - MBA CLASS OF 2008

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