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22 Jan 2019, 02:26
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Question Stats:

96% (00:54) correct 4% (00:45) wrong based on 34 sessions

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Bob sold his car for $20,000. If Bob’s profit was 25% of the purchase price of the car, what was the purchase price of the car? A$4,000
B $8,000 C$12,000
D $16,000 E$18,000

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Re: Bob sold his car for $20,000. If Bob’s profit was 25% of the purchase [#permalink] ### Show Tags 22 Jan 2019, 02:35 Bunuel wrote: Bob sold his car for$20,000. If Bob’s profit was 25% of the purchase price of the car, what was the purchase price of the car?

A $4,000 B$8,000
C $12,000 D$16,000
E $18,000 Selling price = 20000 This price includes 25% profit. $$\frac{20000}{125}$$ * 100 = cost price cost price = 16000. D is the correct answer. GMAT Club Legend Joined: 18 Aug 2017 Posts: 4976 Location: India Concentration: Sustainability, Marketing GPA: 4 WE: Marketing (Energy and Utilities) Re: Bob sold his car for$20,000. If Bob’s profit was 25% of the purchase  [#permalink]

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22 Jan 2019, 10:55
Bunuel wrote:
Bob sold his car for $20,000. If Bob’s profit was 25% of the purchase price of the car, what was the purchase price of the car? A$4,000
B $8,000 C$12,000
D $16,000 E$18,000

let orginal price be x

so
x*1.25= 20,000
x = 16,000 IMO D
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Re: Bob sold his car for $20,000. If Bob’s profit was 25% of the purchase [#permalink] ### Show Tags 22 Jan 2019, 11:40 Bunuel wrote: Bob sold his car for$20,000. If Bob’s profit was 25% of the purchase price of the car, what was the purchase price of the car?

A $4,000 B$8,000
C $12,000 D$16,000
E $18,000 $$\frac{20000*100}{125}$$ $$= 16,000$$, Answer must be (D) _________________ Thanks and Regards Abhishek.... PLEASE FOLLOW THE RULES FOR POSTING IN QA AND VA FORUM AND USE SEARCH FUNCTION BEFORE POSTING NEW QUESTIONS How to use Search Function in GMAT Club | Rules for Posting in QA forum | Writing Mathematical Formulas |Rules for Posting in VA forum | Request Expert's Reply ( VA Forum Only ) Director Joined: 28 Jul 2016 Posts: 598 Location: India Concentration: Finance, Human Resources GPA: 3.97 WE: Project Management (Investment Banking) Re: Bob sold his car for$20,000. If Bob’s profit was 25% of the purchase  [#permalink]

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22 Jan 2019, 12:43
1
selling price = (100+p)/100*c.P
(100+25)/100 * cp = 20000
or CP = 100/125*20000
=4/5*20000
=16000
=D