Find all School-related info fast with the new School-Specific MBA Forum

It is currently 18 Apr 2014, 06:05

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

A man bought 10 crates of oranges for $80 total. If he lost

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Intern
Intern
Joined: 02 Sep 2004
Posts: 42
Followers: 1

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

A man bought 10 crates of oranges for $80 total. If he lost [#permalink] New post 12 Oct 2004, 12:39
00:00
A
B
C
D
E

Difficulty:

  15% (low)

Question Stats:

86% (01:50) correct 13% (00:58) wrong based on 84 sessions
A man bought 10 crates of oranges for $80 total. If he lost 2 of the crates, at what price would he have to sell each of the remaining crates in order to earn a total profit of 25 percent of the total cost?

A. $10.00
B. $10.50
C. $12.00
D. $12.50
E. $120.00
[Reveal] Spoiler: OA

Last edited by Bunuel on 07 Jan 2013, 00:39, edited 1 time in total.
Edited the question and added the OA.
Manager
Manager
Joined: 28 Dec 2012
Posts: 50
Schools: LBS '14
Followers: 1

Kudos [?]: 14 [0], given: 55

Re: A man bought 10 crates of oranges for $80 total. If he lost [#permalink] New post 05 Jan 2013, 04:02
Cost per crate is 8$.
Now he lost 2 crates out of 10 that means quantity lost is 20%. To recover loss from this loss he should increase price by 25% ( 2/10 loss in quantity => 2/8 rise in cost on remaining for break-even). Thus break-even price for remaining 8 crates is 10 $ (8*125/100 or 8* 10/8).

Now he wants 25% profit on top of this. So he should raise break-even price by 25%. So the answer is 12.5$


Kudos if you like the approach!!!!
Senior Manager
Senior Manager
User avatar
Joined: 28 Apr 2012
Posts: 252
Location: India
WE: Information Technology (Computer Software)
Followers: 4

Kudos [?]: 92 [0], given: 103

CAT Tests
Re: A man bought 10 crates of oranges for $80 total. If he lost [#permalink] New post 05 Jan 2013, 08:23
10 Crates for $80
25% Profit over $80 = (5/4)*$80 = $100

Lost 2 Crates, So remaining Crates 10-2 = 8 Crates

8 Crates he has to sell for $100
so, 1 Crate for $100/8 = $12.5
_________________

"Appreciation is a wonderful thing. It makes what is excellent in others belong to us as well."
― Voltaire


Press Kudos, if I have helped.
Thanks!

Math Expert
User avatar
Joined: 02 Sep 2009
Posts: 17307
Followers: 2873

Kudos [?]: 18373 [0], given: 2348

GMAT Tests User CAT Tests
Re: A man bought 10 crates of oranges for $80 total. If he lost [#permalink] New post 07 Jan 2013, 00:43
Expert's post
scoobee wrote:
A man bought 10 crates of oranges for $80 total. If he lost 2 of the crates, at what price would he have to sell each of the remaining crates in order to earn a total profit of 25 percent of the total cost?

A. $10.00
B. $10.50
C. $12.00
D. $12.50
E. $120.00


The total cost is $80. In order to earn a total profit of 25% the total sales must be 80*1.25 = $100.

Thus he must sell each of he remaining crates for 100/8 = $12.5.

Answer: D.
_________________

NEW TO MATH FORUM? PLEASE READ THIS: ALL YOU NEED FOR QUANT!!!

PLEASE READ AND FOLLOW: 11 Rules for Posting!!!

RESOURCES: [GMAT MATH BOOK]; 1. Triangles; 2. Polygons; 3. Coordinate Geometry; 4. Factorials; 5. Circles; 6. Number Theory; 7. Remainders; 8. Overlapping Sets; 9. PDF of Math Book; 10. Remainders; 11. GMAT Prep Software Analysis NEW!!!; 12. SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) NEW!!!; 12. Tricky questions from previous years. NEW!!!;

COLLECTION OF QUESTIONS:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS ; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
25 extra-hard Quant Tests

Re: A man bought 10 crates of oranges for $80 total. If he lost   [#permalink] 07 Jan 2013, 00:43
    Similar topics Author Replies Last post
Similar
Topics:
This topic is locked, you cannot edit posts or make further replies. New 11 Experts publish their posts in the topic A citrus fruit grower receives $15 for each crate of oranges sondenso 21 18 Jul 2009, 17:49
New posts Experts publish their posts in the topic Lost. Totally. :( tan 4 19 Sep 2011, 23:03
New posts Experts publish their posts in the topic A citrus fruit grower receives $15 for each crate of oranges ekshyam 5 25 Jan 2012, 02:42
New posts 1 John bought a total of 12 Mangoes and Oranges. Each Mango co fozzzy 3 31 Jul 2013, 07:04
New posts 3 Experts publish their posts in the topic A store received 7 crates of oranges. What was the standard windofchange 3 06 Oct 2013, 20:59
Display posts from previous: Sort by

A man bought 10 crates of oranges for $80 total. If he lost

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.