SOLUTION: A car dealer purchase 20 new automobiles for $ 8000 each. If he sells 16 of them at a profit of 20%, for how much must he sell the remaining 4 to obtain an average profit of 18% ?

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: A car dealer purchase 20 new automobiles for $ 8000 each. If he sells 16 of them at a profit of 20%, for how much must he sell the remaining 4 to obtain an average profit of 18% ?      Log On


   

Question 1099667: A car dealer purchase 20 new automobiles for $ 8000 each. If he sells 16 of them at a profit of 20%, for how much must he sell the remaining 4 to obtain an average profit of 18% ?
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
1.18*20*8000=188800
8000*1.2*16+4*x=188800
153600+4*x=188800
4*x=188800-153600
4*x=35200
x=35200/4=8800

He must sell the last 4 cars for $8800 for an average profit of 18%