GMAT Problem Solving
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Source: PREP
Level: 2
A used-car dealer sold one car at a profit of 25 percent of the dealer's purchase price for that car and sold another car at a loss of 20 percent of the dealer's purchase price for that car. If the dealer sold each car for $20,000, what was the dealer's total profit or loss, in dollars, for the two transactions combined?
- A $1,000 profit
- B $2,000 profit
- C $1,000 loss
- D $2,000 loss
- E $3,334 loss