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amathews
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What was the percentage change in the simple average profit per car 14 Apr 2017, 17:52
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71% (01:28) correct 29% (01:30) wrong based on 815 sessions

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What was the percentage change in the simple average profit per car sold by dealer X from 2000 to 2009?

(1) The total profit from car sales at dealer X increased by 70% from 2000 to 2009
(2) The total number of cars increased from 1253 in 2000 to 1687 in 2009
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C
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kannu44
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What was the percentage change in the simple average profit per car 26 Apr 2017, 04:43
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Let profit in year 2000 be X then average profit = X/1253
Profit in year 2009 1.7 X (From statement 1) -> Average profit 1.7X/1687

With both above we can calculate percentage change in average profit
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Hoozan
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What was the percentage change in the simple average profit per car 10 Mar 2021, 01:10
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EducationAisle if the overall profit increased by 70% then can't we say that the avg profit also increased by 70%?


Could you help solve this
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EducationAisle
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What was the percentage change in the simple average profit per car 10 Mar 2021, 01:52
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Hoozan
EducationAisle if the overall profit increased by 70% then can't we say that the avg profit also increased by 70%?


Could you help solve this
Thing is that the question is asking for average profit "per car sold".

Since the "number of cars sold" were obviously different in 2000 and 2009, we need to take "number of cars sold" into consideration.

A simple example:
i) In 2000:
number of cars sold = x
Total profit = $100
=> Average profit "per car sold" = 100/x

ii) In 2009:
Say, number of cars sold = y
Total profit = $170
=> Average profit "per car sold" = 170/y

So, number of cars sold ("x" and "y" respectively) also matter.
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What was the percentage change in the simple average profit per car 17 Nov 2024, 10:20
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Let average profit in 2000 and 2009 be p1 and p2.
Let number of cars sold in 2000 and 2009 be n1 and n2.

To evaluate : (p2-p1)/p1 * 100 ----- (i)

Option A) n2p2 = 1.7*n1p1 -> Not sufficient to evaluate (i).
Option B) n1 = 1253, n2 = 1687 -> Not sufficient to evaluate (i).

But using both, we can evaluate (i). So, C is the right answer.
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What was the percentage change in the simple average profit per car 26 Jan 2025, 02:35
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Here, statement 2 says, the number of cars increased from 1253 in 2000 to 1687 in 2009. But it doesnt say if this is an increase in inventory or an increase in the cars sold. We are assuming that this increase is the increase in number of cars sold. Is this a fair assumption to make?

@EducationAisle [b]bb Bunuel @Bismuth83 [/b]
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What was the percentage change in the simple average profit per car 26 Jan 2025, 02:43
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GGGMAT2
Here, statement 2 says, the number of cars increased from 1253 in 2000 to 1687 in 2009. But it doesnt say if this is an increase in inventory or an increase in the cars sold. We are assuming that this increase is the increase in number of cars sold. Is this a fair assumption to make?

@EducationAisle [b]bb Bunuel @Bismuth83 [/b]

I believe the word "sold" is simply missing from the sentence.
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