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A man bought 10 crates of oranges for $80 total. If he lost [#permalink] ### Show Tags 12 Oct 2004, 12:39 00:00 Difficulty: 5% (low) Question Stats: 88% (01:53) correct 12% (01:01) wrong based on 146 sessions ### HideShow timer Statistics 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 Joined: 28 Dec 2012 Posts: 115 Location: India Concentration: Strategy, Finance GMAT 1: Q V WE: Engineering (Energy and Utilities) Followers: 3 Kudos [?]: 66 [0], given: 90 Re: A man bought 10 crates of oranges for$80 total. If he lost [#permalink]

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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!!!! _________________ Impossibility is a relative concept!! Current Student Joined: 28 Apr 2012 Posts: 311 Location: India Concentration: Finance, Technology GMAT 1: 650 Q48 V31 GMAT 2: 770 Q50 V47 WE: Information Technology (Computer Software) Followers: 28 Kudos [?]: 391 [0], given: 142 Re: A man bought 10 crates of oranges for$80 total. If he lost [#permalink]

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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 Joined: 02 Sep 2009 Posts: 36540 Followers: 7073 Kudos [?]: 93052 [0], given: 10541 Re: A man bought 10 crates of oranges for$80 total. If he lost [#permalink]

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07 Jan 2013, 00:43
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. _________________ Re: A man bought 10 crates of oranges for$80 total. If he lost   [#permalink] 07 Jan 2013, 00:43
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