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17 Feb 2025, 01:30
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B
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Difficulty:
25%
(medium)
Question Stats:
89% (01:29) correct
11%
(01:50)
wrong
based on 46
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.
(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.
17 Feb 2025, 01:46
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Total cars = T
Cars sold = 4*T/5
Cars not sold = T/5
Avg Selling Price =$6000
If I know the total rev from sales, I can get total number of cars sold. Consequently, can calculate the total number of cars
Statement 1
Avg value of remaining cars = 5000
No information about number of cars
Insufficient
Statement 2
Rev = 48000
Cars sold = Rev/Avg Selling price = 48000/6000 = 8
4T/5 = 8 => T = 10
Sufficient
Cars sold = 4*T/5
Cars not sold = T/5
Avg Selling Price =$6000
If I know the total rev from sales, I can get total number of cars sold. Consequently, can calculate the total number of cars
Statement 1
Avg value of remaining cars = 5000
No information about number of cars
Insufficient
Statement 2
Rev = 48000
Cars sold = Rev/Avg Selling price = 48000/6000 = 8
4T/5 = 8 => T = 10
Sufficient
Bunuel
17 Feb 2025, 08:35
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We need to find the total number of cars on the lot at the beginning of the weekend (x).
Given: 4/5 of the cars were sold at an average price of 6,000 each.
Equation: Total sales = (4/5) * x * 6,000
Evaluating the Statements
(1) The average value of the remaining cars is 5,000.
- This tells us about the remaining cars but doesn’t help determine x.
- Not sufficient.
(2) The dealer made 48,000 from car sales.
- Using the equation:
(4/5) * x * 6,000 = 48,000
Solving for x:
(4/5) * x = 8 → x = 10
- We can determine x, so this is sufficient.
Conclusion
Answer: B (Statement 2 alone is sufficient).
Given: 4/5 of the cars were sold at an average price of 6,000 each.
Equation: Total sales = (4/5) * x * 6,000
Evaluating the Statements
(1) The average value of the remaining cars is 5,000.
- This tells us about the remaining cars but doesn’t help determine x.
- Not sufficient.
(2) The dealer made 48,000 from car sales.
- Using the equation:
(4/5) * x * 6,000 = 48,000
Solving for x:
(4/5) * x = 8 → x = 10
- We can determine x, so this is sufficient.
Conclusion
Answer: B (Statement 2 alone is sufficient).
