BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

At car dealership x...

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
User avatar
Master | Next Rank: 500 Posts
Posts: 142
Joined: Sat Feb 20, 2010 7:23 pm
Thanked: 8 times
Followed by:1 members

At car dealership x...

by bpgen » Fri Jun 18, 2010 5:52 pm
At car dealership x, the total profit from sales increased by 10% over previous year, while the number of cars sold decreased by 10% over previous year, Approximately, what was the average % increased in profit per car over previous year?

A-18%,
B-20%,
C-22%,
D-23%,
E-25%
"Ambition is the path to success. Persistence is the vehicle you arrive in."
Top
Source: — Problem Solving |
User avatar
Master | Next Rank: 500 Posts
Posts: 142
Joined: Sat Feb 20, 2010 7:23 pm
Thanked: 8 times
Followed by:1 members

by bpgen » Fri Jun 18, 2010 5:55 pm
OA-C
"Ambition is the path to success. Persistence is the vehicle you arrive in."
Top
User avatar
Master | Next Rank: 500 Posts
Posts: 294
Joined: Wed May 05, 2010 4:01 am
Location: india
Thanked: 57 times

by amising6 » Fri Jun 18, 2010 9:12 pm
bpgen wrote:At car dealership x, the total profit from sales increased by 10% over previous year, while the number of cars sold decreased by 10% over previous year, Approximately, what was the average % increased in profit per car over previous year?

A-18%,
B-20%,
C-22%,
D-23%,
E-25%
the total profit from sales previous year be x
the number of cars sold previous year be s
average profit per car=x/s

yhis year
total profit has increased 10 %=1.1x
the number of car sold decreased by 10 % =0.9s

average profit per car=1.1x/0.9s
increase in profit =1.1x/0.9s - x/s=0.2x/s


so increase in % over previous year =(0.2x/s)/(x/s) *100=20 %
Ideation without execution is delusion
Top
User avatar
Legendary Member
Posts: 1460
Joined: Tue Dec 29, 2009 1:28 am
Thanked: 135 times
Followed by:7 members

by selango » Fri Jun 18, 2010 9:27 pm
total profit from sales previous year be 1000
number of cars sold previous year be 100
average profit per car=1000/100=10

this year

total profit has increased 10 %=1100
number of car sold decreased by 10% =90

average profit per car=1100/90=110/9

increase in profit =110/9-10=20/9


increase in % over previous year =20/9/10=20/90=.22

=22%
Top
User avatar
Legendary Member
Posts: 1460
Joined: Tue Dec 29, 2009 1:28 am
Thanked: 135 times
Followed by:7 members

by selango » Fri Jun 18, 2010 9:28 pm
amising6 wrote:
bpgen wrote:At car dealership x, the total profit from sales increased by 10% over previous year, while the number of cars sold decreased by 10% over previous year, Approximately, what was the average % increased in profit per car over previous year?

A-18%,
B-20%,
C-22%,
D-23%,
E-25%
the total profit from sales previous year be x
the number of cars sold previous year be s
average profit per car=x/s

yhis year
total profit has increased 10 %=1.1x
the number of car sold decreased by 10 % =0.9s

average profit per car=1.1x/0.9s
increase in profit =1.1x/0.9s - x/s=0.2x/s [its .22x/s]


so increase in % over previous year =(0.22x/s)/(x/s) *100=22 %
Top
Post new topic Post Reply
• Page 1 of 1