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At the beginning of the last year, a car dealership had 150 cars in

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At the beginning of the last year, a car dealership had 150 cars in [#permalink]

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New post 10 Aug 2017, 02:56
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Question Stats:

38% (00:14) correct 62% (00:55) wrong based on 30 sessions

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At the beginning of the last year, a car dealership had 150 cars in stock, which the dealership had purchased for $20,000 each. During the same year, the dealership made only one purchase of the cars. What is the total amount spent by the dealership on the cars it had in stock at the end of the last year?

(1) Last year the dealership purchased 50 cars for $18,000 each
(2) Last year the total revenue from the sale of the cars was $180,000
[Reveal] Spoiler: OA

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Kudos [?]: 128713 [0], given: 12182

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Re: At the beginning of the last year, a car dealership had 150 cars in [#permalink]

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New post 10 Aug 2017, 08:16
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Bunuel wrote:
At the beginning of the last year, a car dealership had 150 cars in stock, which the dealership had purchased for $20,000 each. During the same year, the dealership made only one purchase of the cars. What is the total amount spent by the dealership on the cars it had in stock at the end of the last year?

(1) Last year the dealership purchased 50 cars for $18,000 each
(2) Last year the total revenue from the sale of the cars was $180,000


Question: What is the total amount spent by the dealership on the cars it had in stock at the end of the last year?

To answer the question we need to know
1) The number of cars he purchased last year and were stocked till end of last year
2) The Price of the cars purchased during last year
3) The cars sold out of the stock of cars he had in beginning of last year


Statement 1: Last year the dealership purchased 50 cars for $18,000 each
This information furnished the requirement 1st and 2nd but doesn't provide information of third requirement
NOT SUFFICIENT

Statement 2: Last year the total revenue from the sale of the cars was $180,000
This information doesn't furnish any of the three requirements
NOT SUFFICIENT

Combining the two statements
The selling price of sold cars is unknown hence we still can't calculate how many cars were stocked till end of last year hence
NOT SUFFICIENT

Answer: Option E
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Kudos [?]: 2277 [1], given: 51

Re: At the beginning of the last year, a car dealership had 150 cars in   [#permalink] 10 Aug 2017, 08:16
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At the beginning of the last year, a car dealership had 150 cars in

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