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17 Mar 2012, 04:18
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Difficulty:
55%
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Question Stats:
67% (02:23) correct
33%
(02:09)
wrong
based on 18
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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.
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.
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Problem Solving (PS) Forum
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17 Mar 2012, 04:33
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enigma123
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).
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Problem Solving (PS) Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
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