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A tractor dealer purchased 50 old tractors, each at $10,000, and spent $2000 on each of them for repair work. In the first month, he sold 40% of the tractors, each, at a profit of 40% and sold the remaining tractors in the next month, each at a price 20% less than the selling price of each tractor in the previous month. What was the overall profit or loss for the dealer?
A. Loss of $24,000
B. Loss of $139,200
C. Profit of $24,000
D. Profit of $139,200
E. Profit of $183,200
Answer: D
Source: e-GMAT
A. Loss of $24,000
B. Loss of $139,200
C. Profit of $24,000
D. Profit of $139,200
E. Profit of $183,200
Answer: D
Source: e-GMAT
