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12 Oct 2004, 13:39
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Difficulty:

5% (low)

Question Stats:

89% (01:52) correct 11% (00:58) wrong based on 143 sessions

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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, 01:39, edited 1 time in total.
Edited the question and added the OA.
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Re: A man bought 10 crates of oranges for $80 total. If he lost [#permalink] ### Show Tags 05 Jan 2013, 05:02 Cost per crate is 8$.
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 $(8*125/100 or 8* 10/8). Now he wants 25% profit on top of this. So he should raise break-even price by 25%. So the answer is 12.5$

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Re: A man bought 10 crates of oranges for $80 total. If he lost [#permalink] ### Show Tags 05 Jan 2013, 09:23 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
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Re: A man bought 10 crates of oranges for $80 total. If he lost [#permalink] ### Show Tags 07 Jan 2013, 01:43 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.

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Re: A man bought 10 crates of oranges for $80 total. If he lost [#permalink] 07 Jan 2013, 01:43 Similar topics Replies Last post Similar Topics: David bought 13 BMW cars for a total price of 1,105,000 dollars. If he 3 08 Jun 2016, 05:09 1 Ralph bought a stereo priced at$120. If the total price he paid at th 2 07 Feb 2016, 10:50
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