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Bob sold his car for $20,000. If Bob’s profit was 25% of the purchase

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Bob sold his car for $20,000. If Bob’s profit was 25% of the purchase  [#permalink]

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New post 22 Jan 2019, 02:26
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A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

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

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GPA: 3.68
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Re: Bob sold his car for $20,000. If Bob’s profit was 25% of the purchase  [#permalink]

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New post 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.
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Re: Bob sold his car for $20,000. If Bob’s profit was 25% of the purchase  [#permalink]

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New post 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]

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New post 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)
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Re: Bob sold his car for $20,000. If Bob’s profit was 25% of the purchase  [#permalink]

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New post 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
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Re: Bob sold his car for $20,000. If Bob’s profit was 25% of the purchase   [#permalink] 22 Jan 2019, 12:43
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Bob sold his car for $20,000. If Bob’s profit was 25% of the purchase

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