GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 14 Oct 2019, 11:13

Close

GMAT 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

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

A car dealer received a shipment of c new cars from the car company at

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Find Similar Topics 
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 58320
A car dealer received a shipment of c new cars from the car company at  [#permalink]

Show Tags

New post 21 Jan 2018, 03:47
00:00
A
B
C
D
E

Difficulty:

  45% (medium)

Question Stats:

54% (02:35) correct 46% (02:33) wrong based on 49 sessions

HideShow timer Statistics

A car dealer received a shipment of c new cars from the car company at a base price of p dollars per car. If the dealer was able to sell d cars at a profit for f dollars each, but had to sell the rest of the cars at a loss for m dollars each, which of the following represents the total profit generated on the sales of the automobiles?

A. df – cp – mp
B. df + f(d – m) – cp
C. d(f – m) + c(m – p)
D. cp – df – f(c – d)
E. df – m(c – d) – cm

_________________
Retired Moderator
avatar
D
Joined: 25 Feb 2013
Posts: 1179
Location: India
GPA: 3.82
GMAT ToolKit User Reviews Badge
A car dealer received a shipment of c new cars from the car company at  [#permalink]

Show Tags

New post 21 Jan 2018, 06:25
Bunuel wrote:
A car dealer received a shipment of c new cars from the car company at a base price of p dollars per car. If the dealer was able to sell d cars at a profit for f dollars each, but had to sell the rest of the cars at a loss for m dollars each, which of the following represents the total profit generated on the sales of the automobiles?

A. df – cp – mp
B. df + f(d – m) – cp
C. d(f – m) + c(m – p)
D. cp – df – f(c – d)
E. df – m(c – d) – cm


Total cost \(= c*p=cp\)

total selling price for 1st lot \(= d*f=df\)

Total selling price for 2nd lot \(= (c-d)*m=cm-dm\)

Hence Total selling price \(= df+cm-dm\)

Hence Net Profit \(= df+cm-dm-cp=d(f-m)+c(m-p)\)

Option C
Veritas Prep GMAT Instructor
User avatar
V
Joined: 16 Oct 2010
Posts: 9699
Location: Pune, India
Re: A car dealer received a shipment of c new cars from the car company at  [#permalink]

Show Tags

New post 21 Jan 2018, 07:23
Bunuel wrote:
A car dealer received a shipment of c new cars from the car company at a base price of p dollars per car. If the dealer was able to sell d cars at a profit for f dollars each, but had to sell the rest of the cars at a loss for m dollars each, which of the following represents the total profit generated on the sales of the automobiles?

A. df – cp – mp
B. df + f(d – m) – cp
C. d(f – m) + c(m – p)
D. cp – df – f(c – d)
E. df – m(c – d) – cm


Too many variables so plugging in will be too confusing.

Focus on what you need.

Total profit = Revenue - Cost
Revenue = df + (c - d)m = df + cm - dm
Cost = cp

Total profit = df + cm - dm - cp

Option (C) matches.
_________________
Karishma
Veritas Prep GMAT Instructor

Learn more about how Veritas Prep can help you achieve a great GMAT score by checking out their GMAT Prep Options >
Senior PS Moderator
User avatar
V
Joined: 26 Feb 2016
Posts: 3333
Location: India
GPA: 3.12
A car dealer received a shipment of c new cars from the car company at  [#permalink]

Show Tags

New post 21 Jan 2018, 07:50
Agree this method is quite cumbersome as already suggested, but its an alternate method

Let the car dealer have ordered c=10 cars each priced at p=100
Hence, the cost price that the cars cost the car dealer was 1000(10*100)

It has been given that the dealer was able to sell d=4 cars with a profit of 25 making f=125
The selling price of the 4 cars is 4*(100+25) = 500
The remaining cars(6 in number) were sold at the a loss of 25 dollars each(m=75)
The selling price of these cars was 6*75 = 450, making the total selling price 450+500 = 950

The selling of the cars leads to a loss of 50, profit is -50

Plugging the values into the equation, we get
A. df – cp – mp = 1250 - 1000 - 2500 (need not calculate, can't be -50)
B. df + f(d – m) – cp = 1250 + 25(-21) - 1000 (need not calculate, can't be -50)
C. d(f – m) + c(m – p) = 4(125-75) + 10(75-100) = 200 + 10(-25) = 200 - 250 = -50

Hence, Option C {d(f – m) + c(m – p)} is the correct answer
_________________
You've got what it takes, but it will take everything you've got
SVP
SVP
User avatar
V
Joined: 26 Mar 2013
Posts: 2341
Reviews Badge CAT Tests
A car dealer received a shipment of c new cars from the car company at  [#permalink]

Show Tags

New post 22 Jan 2018, 15:23
pushpitkc wrote:
Agree this method is quite cumbersome as already suggested, but its an alternate method

Let the car dealer have ordered c=10 cars each priced at p=100
Hence, the cost price that the cars cost the car dealer was 1000(10*100)

It has been given that the dealer was able to sell d=4 cars with a profit of f=25
The selling price of the 4 cars is 4*(100+25) = 500
The remaining cars(6 in number) were sold at the a loss of 25 dollars each(m=75)
The selling price of these cars was 6*75 = 450, making the total selling price 450+500 = 950

The selling of the cars leads to a loss of 50, profit is -50

Plugging the values into the equation, we get
A. df – cp – mp = 100 - 1000 - 2500 (need not calculate, can't be -50)
B. df + f(d – m) – cp = 100 + 25(-21) - 1000 (need not calculate, can't be -50)
C. d(f – m) + c(m – p) = 4(25-75) + 10(75-100) = 200 + 10(-25) = 200 - 250 = -50

Hence, Option C {d(f – m) + c(m – p)} is the correct answer


Hi,
The highlighted part is not correct:

According to your solution, it should be

d(f – m) + c(m – p) = 4(25-75) + 10(75-100) = - 200 + 10(-25) = -200 - 250 = -450....it does not match the answer you provided above (-50). However, your math is totally correct in example you provided.

I tried many other sets of number which could match choice C.

I wonder where it is wrong in plugging number.
SVP
SVP
User avatar
V
Joined: 26 Mar 2013
Posts: 2341
Reviews Badge CAT Tests
A car dealer received a shipment of c new cars from the car company at  [#permalink]

Show Tags

New post 22 Jan 2018, 15:39
niks18 wrote:
Bunuel wrote:
A car dealer received a shipment of c new cars from the car company at a base price of p dollars per car. If the dealer was able to sell d cars at a profit for f dollars each, but had to sell the rest of the cars at a loss for m dollars each, which of the following represents the total profit generated on the sales of the automobiles?

A. df – cp – mp
B. df + f(d – m) – cp
C. d(f – m) + c(m – p)
D. cp – df – f(c – d)
E. df – m(c – d) – cm


Total cost \(= c*p=cp\)

total selling price for 1st lot \(= d*f=df\)

Total selling price for 2nd lot \(= (c-d)*m=cm-dm\)

Hence Total selling price \(= df+cm-dm\)

Hence Net Profit \(= df+cm-dm-cp=d(f-m)+c(m-p)\)

Option C


Hi niks18,

The choices has something incorrect.

If you have d cars and f profit for each, so the revenue is not d * f. It must be d (f+P)...Do you agree???

If I have 1 car with price 100 and profit 20.......So revenue would be 1 (20+100)=120 and i is NOT 1 * 20 =20

What do you think???
Math Expert
avatar
V
Joined: 02 Aug 2009
Posts: 7953
Re: A car dealer received a shipment of c new cars from the car company at  [#permalink]

Show Tags

New post 22 Jan 2018, 17:22
1
Mo2men wrote:
niks18 wrote:
Bunuel wrote:
A car dealer received a shipment of c new cars from the car company at a base price of p dollars per car. If the dealer was able to sell d cars at a profit for f dollars each, but had to sell the rest of the cars at a loss for m dollars each, which of the following represents the total profit generated on the sales of the automobiles?

A. df – cp – mp
B. df + f(d – m) – cp
C. d(f – m) + c(m – p)
D. cp – df – f(c – d)
E. df – m(c – d) – cm


Total cost \(= c*p=cp\)

total selling price for 1st lot \(= d*f=df\)

Total selling price for 2nd lot \(= (c-d)*m=cm-dm\)

Hence Total selling price \(= df+cm-dm\)

Hence Net Profit \(= df+cm-dm-cp=d(f-m)+c(m-p)\)

Option C


Hi niks18,

The choices has something incorrect.

If you have d cars and f profit for each, so the revenue is not d * f. It must be d (f+P)...Do you agree???

If I have 1 car with price 100 and profit 20.......So revenue would be 1 (20+100)=120 and i is NOT 1 * 20 =20

What do you think???


Hi..
The choices are ok..

If the statement read... d cars were sold at a profit OF f dollars meant profit was fd.

But if statement reads ... d cars were sold at a profit FOR f dollars MEANS revenue is fd and f is more than the base price
_________________
Director
Director
avatar
P
Joined: 31 Jul 2017
Posts: 512
Location: Malaysia
Schools: INSEAD Jan '19
GMAT 1: 700 Q50 V33
GPA: 3.95
WE: Consulting (Energy and Utilities)
Re: A car dealer received a shipment of c new cars from the car company at  [#permalink]

Show Tags

New post 22 Jan 2018, 17:31
Bunuel wrote:
A car dealer received a shipment of c new cars from the car company at a base price of p dollars per car. If the dealer was able to sell d cars at a profit for f dollars each, but had to sell the rest of the cars at a loss for m dollars each, which of the following represents the total profit generated on the sales of the automobiles?

A. df – cp – mp
B. df + f(d – m) – cp
C. d(f – m) + c(m – p)
D. cp – df – f(c – d)
E. df – m(c – d) – cm


Total cost for c Cars = \(c∗p\)

The total selling price for d cars = \(d∗f\)

The total selling price remaining cars = \((c−d)∗m\)

Hence Total selling price for all cars = \(df+cm−dm\)

Hence Net Profit = \(df+cm−dm−cp\)

Hence, Option C
_________________
If my Post helps you in Gaining Knowledge, Help me with KUDOS.. !!
SVP
SVP
User avatar
V
Joined: 26 Mar 2013
Posts: 2341
Reviews Badge CAT Tests
Re: A car dealer received a shipment of c new cars from the car company at  [#permalink]

Show Tags

New post 22 Jan 2018, 17:48
chetan2u wrote:
Hi..
The choices are ok..

If the statement read... d cars were sold at a profit OF f dollars meant profit was fd.

But if statement reads ... d cars were sold at a profit FOR f dollars MEANS revenue is fd and f is more than the base price


Make sense. Thanks for your reply.
Senior PS Moderator
User avatar
V
Joined: 26 Feb 2016
Posts: 3333
Location: India
GPA: 3.12
Re: A car dealer received a shipment of c new cars from the car company at  [#permalink]

Show Tags

New post 23 Jan 2018, 01:12
Mo2men wrote:
chetan2u wrote:
Hi..
The choices are ok..

If the statement read... d cars were sold at a profit OF f dollars meant profit was fd.

But if statement reads ... d cars were sold at a profit FOR f dollars MEANS revenue is fd and f is more than the base price


Make sense. Thanks for your reply.[/quote]


Hi Mo2men

I think I was also making the same mistake.
If we change the value of f, we should get Option C as the answer.

Have corrected the solution accordingly
_________________
You've got what it takes, but it will take everything you've got
Target Test Prep Representative
User avatar
G
Status: Head GMAT Instructor
Affiliations: Target Test Prep
Joined: 04 Mar 2011
Posts: 2817
Re: A car dealer received a shipment of c new cars from the car company at  [#permalink]

Show Tags

New post 24 Jan 2018, 10:34
Bunuel wrote:
A car dealer received a shipment of c new cars from the car company at a base price of p dollars per car. If the dealer was able to sell d cars at a profit for f dollars each, but had to sell the rest of the cars at a loss for m dollars each, which of the following represents the total profit generated on the sales of the automobiles?

A. df – cp – mp
B. df + f(d – m) – cp
C. d(f – m) + c(m – p)
D. cp – df – f(c – d)
E. df – m(c – d) – cm


The total cost of the c cars was cp dollars.

The revenue made on d cars was df dollars, and the revenue made on the remaining (c - d) cars was (c - d)m = cm - dm dollars. Thus, the total revenue for the c cars was df + cm - dm dollars.

Therefore, the total profit made on selling the c cars was:

(df + cm - dm) - cp = d(f - m) + c(m - p) dollars

Answer: C
_________________

Jeffrey Miller

Head of GMAT Instruction

Jeff@TargetTestPrep.com
TTP - Target Test Prep Logo
122 Reviews

5-star rated online GMAT quant
self study course

See why Target Test Prep is the top rated GMAT quant course on GMAT Club. Read Our Reviews

If you find one of my posts helpful, please take a moment to click on the "Kudos" button.

GMAT Club Bot
Re: A car dealer received a shipment of c new cars from the car company at   [#permalink] 24 Jan 2018, 10:34
Display posts from previous: Sort by

A car dealer received a shipment of c new cars from the car company at

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  





Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne