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

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Director
Status: Finally Done. Admitted in Kellogg for 2015 intake
Joined: 25 Jun 2011
Posts: 540

Kudos [?]: 3965 [0], given: 217

Location: United Kingdom
GMAT 1: 730 Q49 V45
GPA: 2.9
WE: Information Technology (Consulting)
A car dealership sold two cars: the first car at a 10% [#permalink]

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17 Mar 2012, 04:18
00:00

Difficulty:

45% (medium)

Question Stats:

61% (01:13) correct 39% (02:00) wrong based on 23 sessions

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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

[Reveal] Spoiler: OA

_________________

Best Regards,
E.

MGMAT 1 --> 530
MGMAT 2--> 640
MGMAT 3 ---> 610
GMAT ==> 730

Kudos [?]: 3965 [0], given: 217

Math Expert
Joined: 02 Sep 2009
Posts: 41688

Kudos [?]: 124487 [0], given: 12079

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

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17 Mar 2012, 04:33
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).
_________________

Kudos [?]: 124487 [0], given: 12079

Re: A car dealership sold two cars: the first car at a 10%   [#permalink] 17 Mar 2012, 04:33
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