An auto dealership sold one car with a 10% profit and one car with a 10% loss, which gave it an overall profit of 5% from these sales. How much was each of the cars if the dealership profit was $1000?
A \$11000 and \$9000
B \$15000 and \$5000
C \$9,450 and \$10550
D \$11550 and \$8450
E \$10000 and \$10000
The solution to this question does not require knowledge of 5%, but it is still given. Is useless info often presented in real Gmat to confuse test taker.
Had this one from challenges yesterday.
.05s=1000. So we know the total price of both cars: s = 20000.
lets say X = price of normal car. So we have 1.1x and .9x
Now we know that 1.1x + .9x = s 2x=s 2x=20,000
So just replug in for x. We get 11,000 and 9000.