James had $80 000 in the bank. He used some of this cash to buy a new car for $67 000 on 1 January. James subsequently modified the car and sold it for $78 000 on 1 March. The modifications cost James $10 000, and he paid a total of $250 to advertise the car for sale. James' wealth after the sale of the car was:
A) $80 000.
B) $80 750.
C) $148 000.
D) $158 000.

Question

Quizplus · Accepted Answer

James initially had $80,000. He spent $67,000 on a car, leaving him with $13,000. After modifications costing $10,000 and $250 for advertising, his remaining cash before the sale was $2,750. Selling the car for $78,000 brought his total to $80,750.

James Had $80 000 in the Bank