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

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

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New post 13 Oct 2010, 21:26
1
00:00
A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

76% (01:22) correct 24% (01:48) wrong based on 38 sessions

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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
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Re: Russell sells used cars and receives a $75 commission plus 1% of the  [#permalink]

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New post 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

It means answer is D.

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.
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Re: Russell sells used cars and receives a $75 commission plus 1% of the  [#permalink]

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New post 13 Oct 2010, 23:49
shouldnt answer be D?
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Re: Russell sells used cars and receives a $75 commission plus 1% of the  [#permalink]

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New post 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

Answer is (d) indeed !
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Re: Russell sells used cars and receives a $75 commission plus 1% of the  [#permalink]

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New post 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
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Re: Russell sells used cars and receives a $75 commission plus 1% of the  [#permalink]

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New post 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

Answer: D
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Re: Russell sells used cars and receives a $75 commission plus 1% of the &nbs [#permalink] 16 Jan 2018, 17:49
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