Free Practice Question
PS · Problem Solving
705-805
Fractions/Ratios/Decimals
Jenny crashes a $50,000 cost car while taking her test and reduces its value by 60%. Fortunately, she can claim cash insurance for the damage caused and is paid back 75% of the value lost. The car is fixed for a cost of $10,000 and later sold for $47,500. How much profit or loss was made on the sale of the car?
Answer Choices
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$20,000 profit
B
$2,500 loss
C
$17,500 loss
D
$0 profit / loss
E
$10,000 profit
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Difficulty
705-805
Type
PS
Category