GMAT Question of the Day - Daily to your Mailbox; hard ones only

 It is currently 18 Oct 2019, 17:25

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Russell sells used cars and receives a \$75 commission plus 1% of the

Author Message
TAGS:

### Hide Tags

Manager
Joined: 29 Sep 2008
Posts: 85
Russell sells used cars and receives a \$75 commission plus 1% of the  [#permalink]

### Show Tags

13 Oct 2010, 21:26
1
00:00

Difficulty:

35% (medium)

Question Stats:

70% (01:56) correct 30% (02:13) wrong based on 42 sessions

### HideShow timer Statistics

Russell sells used cars and receives a \$75 commission plus 1% of the sticker price for each car sold. Last week, Russell sold 8 cars for an average price of \$7,787.50. What were his earnings last week?

\$600
\$623
\$698
\$1223
\$6830
Manager
Joined: 08 Sep 2010
Posts: 150
Location: India
WE 1: 6 Year, Telecom(GSM)
Re: Russell sells used cars and receives a \$75 commission plus 1% of the  [#permalink]

### Show Tags

Updated on: 14 Oct 2010, 00:52
mrinal2100 wrote:
Russell sells used cars and receives a \$75 commission plus 1% of the sticker price for each car sold.
Last week, Russell sold 8 cars for an average price of \$7,787.50. What were his earnings last week?
\$600
\$623
\$698
\$1223
\$6830

Selling Price=\$7787.50*8=62300

Russel takes \$75 commission on each car plus 1% of sticker Cost.
So Income= \$75*8 + 1/100(\$62300) =1223

Consider KUDOS if u like the solution.

Originally posted by ankitranjan on 13 Oct 2010, 23:47.
Last edited by ankitranjan on 14 Oct 2010, 00:52, edited 1 time in total.
Intern
Joined: 11 Oct 2010
Posts: 6
Re: Russell sells used cars and receives a \$75 commission plus 1% of the  [#permalink]

### Show Tags

13 Oct 2010, 23:49
Retired Moderator
Joined: 02 Sep 2010
Posts: 726
Location: London
Re: Russell sells used cars and receives a \$75 commission plus 1% of the  [#permalink]

### Show Tags

14 Oct 2010, 00:40
For selling 8 cars the commision is 8*\$75 = \$600
Plus there is the 1% bonus which will be 1%*\$7787.5*8 = \$623
Total amount earned = \$600 + \$623 = \$1263

_________________
Intern
Joined: 10 Oct 2010
Posts: 20
Re: Russell sells used cars and receives a \$75 commission plus 1% of the  [#permalink]

### Show Tags

17 Oct 2010, 09:12
haha I am glad other people got D. I did not scroll down to see the other posts and was horribly confused where I went wrong
Target Test Prep Representative
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 8109
Location: United States (CA)
Re: Russell sells used cars and receives a \$75 commission plus 1% of the  [#permalink]

### Show Tags

16 Jan 2018, 17:49
mrinal2100 wrote:
Russell sells used cars and receives a \$75 commission plus 1% of the sticker price for each car sold. Last week, Russell sold 8 cars for an average price of \$7,787.50. What were his earnings last week?

\$600
\$623
\$698
\$1223
\$6830

Since Russell receives a \$75 commission plus 1% of the sticker price for each car sold, last week he earned:

8 x 75 + 0.01(8 x 7,787.50) = 600 + 0.01(62,300) = 600 + 623 = \$1,223

_________________

# Scott Woodbury-Stewart

Founder and CEO

Scott@TargetTestPrep.com
122 Reviews

5-star rated online GMAT quant
self study course

See why Target Test Prep is the top rated GMAT quant course on GMAT Club. Read Our Reviews

If you find one of my posts helpful, please take a moment to click on the "Kudos" button.

Re: Russell sells used cars and receives a \$75 commission plus 1% of the   [#permalink] 16 Jan 2018, 17:49
Display posts from previous: Sort by