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A grocer bought 24Kg of coffee beans at price X. After a

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Manager
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A grocer bought 24Kg of coffee beans at price X. After a [#permalink] New post 01 Sep 2004, 08:26
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14. A grocer bought 24Kg of coffee beans at price X. After a while one third of the stock got spoiled so he sold the rest for 200$ per Kilo and made a total profit of twice the cost. What must be price X?

(a) 66 2/3$.
(b) 50 1/3$.
(c) 48 1/6$.
(d) 33 1/3$.
(e) 24 1/2$.
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 [#permalink] New post 01 Sep 2004, 08:42
Original price = 24X
Spoiled = 8Kg, Rest = 16Kg
Sale Price = 16(200), Profit = 16(200)-24X

16(200)-24X = 2(24X)
X = 400/9 = 44 4/9
I dont see this as an answer choice

Either,
The question sd read "made a total profit equal to the cost.", then (A). 66 2/3$. Also, I guess, the stem sd be "A grocer bought 24Kg of coffee beans at price X/Kg"
Or
I am missing something too easy due to loss of sleep. :x
Manager
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 [#permalink] New post 01 Sep 2004, 13:21
Well,

I got also $44 as answer.

When I use as cost only the cost of the sold goods which is 16 kg then I come to solution 66,66. But I doubt we only may calculate the cost of goods sold, because this will not reflect the total cost X when he bought the 24 kilograms of coffee.

Regards,

Alex
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 [#permalink] New post 01 Sep 2004, 18:54
24kg of beans -- $24x
2/3(24) = 16kg sold, -- $200 per kg

Profit = 200(16) - 24x = 48x
x = $44

I don't like this question for one big reason: It said 24kg beans at price X. My initial interpretation is 24kgs cost $x dollars. However, it turned out instead it meant 24kg for x dollars per kg
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 [#permalink] New post 01 Sep 2004, 23:07
The answer is not matching any of the answer choices. Even i got that ans as 44 4/9.
Thanks.
  [#permalink] 01 Sep 2004, 23:07
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