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11 May 2021, 09:00
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This question comes from GMAT Prep, specifically Practice Exam 4. (I just wrapped up a lesson in which I was helping a student go over questions from his practice test.) Bunuel, would you please add the appropriate tag?
Thank you.
- Andrew
Thank you.
- Andrew
billionaire999
Joined: 26 Mar 2021
Last visit: 12 May 2021
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Schools: Rotman '24 Desautels Melbourne HEC Montreal Ivey '24 Rotman
11 May 2021, 11:05
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ppravin88
CROSS MULTIPLY
Let all outstanding consumer installment credit = 100
automobile installment credit = 36% of 100
= 36
1/3rd of automobile credit= ( 1/3 ) * 36 = 12
Now as given,
= 57 billion = 1/3rd of automobile credit= ( 1/3 ) * 36 = 12
automobile credit outstanding consumer installment credit
12 100
57 X
X= (57 * 100)/12
= 475
ANSWER C
