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After having to pay increased income taxes this year, Edmond has to se

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After having to pay increased income taxes this year, Edmond has to se  [#permalink]

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New post 08 Aug 2019, 00:44
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A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

96% (00:59) correct 4% (01:28) wrong based on 77 sessions

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GMAT 1: 690 Q50 V34
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Re: After having to pay increased income taxes this year, Edmond has to se  [#permalink]

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New post 08 Aug 2019, 04:33
Bunuel wrote:
After having to pay increased income taxes this year, Edmond has to sell his BMW. Edmond bought the car for $49,000, but he sold it for a 20% loss. What did Edmond sell the car for?

A. $24,200
B. $28,900
C. $35,600
D. $37,300
E. $39,200


Given: After having to pay increased income taxes this year, Edmond has to sell his BMW. Edmond bought the car for $49,000, but he sold it for a 20% loss.

Asked: What did Edmond sell the car for?

Selling price of the car = (100%-20%)*$49,000 = 80%*$49,000 = $39,200

IMO E
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Re: After having to pay increased income taxes this year, Edmond has to se  [#permalink]

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New post 11 Aug 2019, 18:45
Bunuel wrote:
After having to pay increased income taxes this year, Edmond has to sell his BMW. Edmond bought the car for $49,000, but he sold it for a 20% loss. What did Edmond sell the car for?

A. $24,200
B. $28,900
C. $35,600
D. $37,300
E. $39,200


Edmonds sold the car for 49,000 x 0.8 = 39,200 dollars.

Answer: E
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Re: After having to pay increased income taxes this year, Edmond has to se   [#permalink] 11 Aug 2019, 18:45

After having to pay increased income taxes this year, Edmond has to se

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