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Over a holiday weekend, a certain car dealer sold off 4/5 of the cars

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Bunuel
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Over a holiday weekend, a certain car dealer sold off 4/5 of the cars [#permalink] New post   19 Aug 2016, 04:00
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71% (01:43) correct 29% (01:44) wrong based on 47 sessions
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Over a holiday weekend, a certain car dealer sold off 4/5 of the cars on its lot. If the cars sold for an average of $6,000 each, how many cars were on the dealer’s lot at the beginning of the weekend?

(1) The average value of the remaining cars on the lot is $5,000.
(2) The car dealer made $48,000 in car sales over the weekend.
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sofiamirza
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Re: Over a holiday weekend, a certain car dealer sold off 4/5 of the cars [#permalink] New post   19 Aug 2016, 04:48
Hey guyz I'm new to this group can anybody help me in my preparation......I have started in quant Algebra but I'm not able to understand the roots problem....
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Bunuel
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Re: Over a holiday weekend, a certain car dealer sold off 4/5 of the cars [#permalink] New post   19 Aug 2016, 05:19
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sofiamirza wrote:
Hey guyz I'm new to this group can anybody help me in my preparation......I have started in quant Algebra but I'm not able to understand the roots problem....


Please go through the following post: all-you-need-for-quant-140445.html

Hope it helps.
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msk0657
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Re: Over a holiday weekend, a certain car dealer sold off 4/5 of the cars [#permalink] New post   19 Aug 2016, 05:46
Bunuel wrote:
Over a holiday weekend, a certain car dealer sold off 4/5 of the cars on its lot. If the cars sold for an average of $6,000 each, how many cars were on the dealer’s lot at the beginning of the weekend?

(1) The average value of the remaining cars on the lot is $5,000.
(2) The car dealer made $48,000 in car sales over the weekend.


Let there be x cars...

Given, dealer sold 4/5(x) cars...the avg price of each car is 6000....need to find the number of cars.

Stat 1: The avg value of remaining cars on the lot is 5000. If we were given the total value of the unsold cars then we would have got number of unsold cars..from this we can get information...Insufficient..

Stat 2: The car dealer made $48,000 for his sales... i.e no of cars sold is 48000/ 6000 = 8.

Now 4/5(x) = 8 => X = 10 cars... remaining lot is 1/5(10) = 2...Total 12 cars..

Stat 2 is sufficient...

IMO option B is correct...

OA please...will correct if I missed anything..
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Re: Over a holiday weekend, a certain car dealer sold off 4/5 of the cars [#permalink] New post   20 Aug 2016, 21:16
The total number of cars would be - 10 because -

4/5(x) = 48000/6000 wherein x is the total number of cars in the lot.

4/5(x) =8
x= 10......Thus, total number of cars at the beginning would be - 10.
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Re: Over a holiday weekend, a certain car dealer sold off 4/5 of the cars [#permalink]
20 Aug 2016, 21:16
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