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

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Manager
Joined: 31 Dec 2003
Posts: 214
Location: US
Followers: 0

Kudos [?]: 9 [0], given: 0

A grocer bought 24Kg of coffee beans at price X. After a [#permalink]  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$. (e) 24 1/2$.
Director
Joined: 20 Jul 2004
Posts: 593
Followers: 1

Kudos [?]: 53 [0], given: 0

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. Manager Joined: 02 Apr 2004 Posts: 224 Location: Utrecht Followers: 1 Kudos [?]: 13 [0], given: 0 [#permalink] 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
GMAT Club Legend
Joined: 07 Jul 2004
Posts: 5068
Location: Singapore
Followers: 23

Kudos [?]: 194 [0], given: 0

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
Manager
Joined: 31 Dec 2003
Posts: 214
Location: US
Followers: 0

Kudos [?]: 9 [0], given: 0

The answer is not matching any of the answer choices. Even i got that ans as 44 4/9.
Thanks.
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A grocer bought 24Kg of coffee beans at price X. After a

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