It is currently 23 Oct 2017, 10:59

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.

Close

Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

A dishonest person wants to make a profit on the selling of

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

2 KUDOS received
Senior Manager
Senior Manager
avatar
Joined: 10 Apr 2012
Posts: 277

Kudos [?]: 1160 [2], given: 325

Location: United States
Concentration: Technology, Other
GPA: 2.44
WE: Project Management (Telecommunications)
GMAT ToolKit User Premium Member
A dishonest person wants to make a profit on the selling of [#permalink]

Show Tags

New post 02 Oct 2013, 17:32
2
This post received
KUDOS
8
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  55% (hard)

Question Stats:

69% (01:46) correct 31% (02:21) wrong based on 217 sessions

HideShow timer Statistics

A dishonest person wants to make a profit on the selling of milk. He would like to mix water (costing nothing) with milk costing 33 $ per litre so as to make a profit of 20% on cost when he sells the resulting milk and water mixture for 36$. In what ratio should he mix the water and milk?
(A)1:20
(B) 1:10
(C) 1:8
(D)1:4
(E)1:2
[Reveal] Spoiler: OA

Kudos [?]: 1160 [2], given: 325

Expert Post
8 KUDOS received
Magoosh GMAT Instructor
User avatar
G
Joined: 28 Dec 2011
Posts: 4428

Kudos [?]: 8483 [8], given: 102

Re: A dishonest person wants to make a profit on the selling of [#permalink]

Show Tags

New post 02 Oct 2013, 20:47
8
This post received
KUDOS
Expert's post
2
This post was
BOOKMARKED
guerrero25 wrote:
A dishonest person wants to make a profit on the selling of milk. He would like to mix water (costing nothing) with milk costing 33 $ per litre so as to make a profit of 20% on cost when he sells the resulting milk and water mixture for 36$. In what ratio should he mix the water and milk?
(A) 1:20
(B) 1:10
(C) 1:8
(D) 1:4
(E) 1:2

Dear guerrero25,
I'm happy to help with this. :-)

First of all, let's consider 1 liter of the stuff he is going to sell --- naive customers think it's pure milk, but we know it's some milk-water mixture. He is going to sell this liter of milk-water for $36.

This $36 should be a 20% increase over cost. Here, we need to think about percentage increases as multipliers. See this blog for more info:
http://magoosh.com/gmat/2012/understand ... -the-gmat/
Using multipliers
(cost)*1.20 = $36
cost = 36/1.2 = 360/12 = $30

If he wants a 20% increase over cost on the sale of one liter of his milk-water, the cost has to be $30.

Well, a liter of milk costs $33, so if he is going to use just $30 of milk in his mixture, that's 30/33 = 10/11 of a liter. If milk is 10/11 of the liter, then water is 1/11 of the liter, and the ratio of water to milk is 1:10. Answer choice (B)

Does all this make sense?
Mike :-)
_________________

Mike McGarry
Magoosh Test Prep

Image

Image

Education is not the filling of a pail, but the lighting of a fire. — William Butler Yeats (1865 – 1939)

Kudos [?]: 8483 [8], given: 102

Manager
Manager
User avatar
B
Status: Applying
Joined: 01 Dec 2012
Posts: 91

Kudos [?]: 89 [0], given: 67

Location: United States (OH)
Concentration: Strategy, Entrepreneurship
GMAT 1: 750 Q50 V42
GPA: 2.9
WE: Consulting (Consulting)
Re: A dishonest person wants to make a profit on the selling of [#permalink]

Show Tags

New post 02 Oct 2013, 20:51
mikemcgarry wrote:
guerrero25 wrote:
A dishonest person wants to make a profit on the selling of milk. He would like to mix water (costing nothing) with milk costing 33 $ per litre so as to make a profit of 20% on cost when he sells the resulting milk and water mixture for 36$. In what ratio should he mix the water and milk?
(A) 1:20
(B) 1:10
(C) 1:8
(D) 1:4
(E) 1:2

Dear guerrero25,
I'm happy to help with this. :-)

First of all, let's consider 1 liter of the stuff he is going to sell --- naive customers think it's pure milk, but we know it's some milk-water mixture. He is going to sell this liter of milk-water for $36.

This $36 should be a 20% increase over cost. Here, we need to think about percentage increases as multipliers. See this blog for more info:
http://magoosh.com/gmat/2012/understand ... -the-gmat/
Using multipliers
(cost)*1.20 = $36
cost = 36/1.2 = 360/12 = $30

If he wants a 20% increase over cost on the sale of one liter of his milk-water, the cost has to be $30.

Well, a liter of milk costs $33, so if he is going to use just $30 of milk in his mixture, that's 30/33 = 10/11 of a liter. If milk is 10/11 of the liter, then water is 1/11 of the liter, and the ratio of water to milk is 1:10. Answer choice (B)

Does all this make sense?
Mike :-)



Great solution, as always Mike! Thank you :)
_________________

Regards,
Vishnu

Article --> http://www.topmba.com/blog/could-mba-degree-be-way-forward

Kudos [?]: 89 [0], given: 67

SVP
SVP
User avatar
Status: The Best Or Nothing
Joined: 27 Dec 2012
Posts: 1853

Kudos [?]: 2633 [0], given: 193

Location: India
Concentration: General Management, Technology
WE: Information Technology (Computer Software)
Re: A dishonest person wants to make a profit on the selling of [#permalink]

Show Tags

New post 27 Jan 2015, 22:28
1
This post was
BOOKMARKED
To achieve profit of 20% on "Pure Milk", its cost price should be \(= 36 * \frac{100}{120} = 30\)

However, given that cost price of "Pure Milk" = 33

1 litre "Pure Milk" is obtained in 33$, so "Pure Milk" obtained in 30$ \(= \frac{30}{33}\)

Water required to be added \(= 1 - \frac{30}{33}= \frac{3}{33}\)

Ratio of Water : Milk \(= \frac{\frac{3}{33}}{\frac{30}{33}} = \frac{3}{30} = \frac{1}{10}\)

Answer = B
_________________

Kindly press "+1 Kudos" to appreciate :)

Kudos [?]: 2633 [0], given: 193

Expert Post
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 41913

Kudos [?]: 129477 [0], given: 12201

Re: A dishonest person wants to make a profit on the selling of [#permalink]

Show Tags

New post 05 May 2016, 00:55
Expert's post
1
This post was
BOOKMARKED
guerrero25 wrote:
A dishonest person wants to make a profit on the selling of milk. He would like to mix water (costing nothing) with milk costing 33 $ per litre so as to make a profit of 20% on cost when he sells the resulting milk and water mixture for 36$. In what ratio should he mix the water and milk?
(A)1:20
(B) 1:10
(C) 1:8
(D)1:4
(E)1:2


Similar questions to practice:
a-dishonest-milkman-sells-a-40-liter-mixture-of-milk-and-water-that-co-192299.html
a-dishonest-milkman-wants-to-make-a-profit-on-the-selling-of-164753.html
a-dishonest-grocer-professes-to-sell-pure-butter-at-cpst-price-but-he-108766.html
merchant-makes-a-profit-of-20-on-selling-price-97059.html
a-merchant-claims-a-loss-of-4-on-coffee-but-uses-a-weight-o-167197.html
a-shop-owner-professes-to-sell-his-articles-at-certain-cost-127746.html
katrina-has-a-wheat-business-she-purchases-wheat-from-a-135499.html
a-man-cheats-while-buying-as-well-as-while-selling-while-135183.html
a-trader-cheats-both-his-supplier-and-customer-by-using-117512.html
a-dishonest-dealer-claims-to-sell-a-product-at-its-cost-pric-160822.html
a-shop-owner-professes-to-sell-his-articles-at-certain-cost-127746.html
if-a-trader-by-means-of-false-measures-gains-20-while-buy-122690.html

Hope this helps.
_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

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?
Extra-hard Quant Tests with Brilliant Analytics

Kudos [?]: 129477 [0], given: 12201

Manager
Manager
avatar
Joined: 01 Mar 2014
Posts: 138

Kudos [?]: 10 [0], given: 616

Schools: Tepper '18
Re: A dishonest person wants to make a profit on the selling of [#permalink]

Show Tags

New post 26 May 2016, 10:33
mikemcgarry wrote:
guerrero25 wrote:
A dishonest person wants to make a profit on the selling of milk. He would like to mix water (costing nothing) with milk costing 33 $ per litre so as to make a profit of 20% on cost when he sells the resulting milk and water mixture for 36$. In what ratio should he mix the water and milk?
(A) 1:20
(B) 1:10
(C) 1:8
(D) 1:4
(E) 1:2

Dear guerrero25,
I'm happy to help with this. :-)

First of all, let's consider 1 liter of the stuff he is going to sell --- naive customers think it's pure milk, but we know it's some milk-water mixture. He is going to sell this liter of milk-water for $36.

This $36 should be a 20% increase over cost. Here, we need to think about percentage increases as multipliers. See this blog for more info:
http://magoosh.com/gmat/2012/understand ... -the-gmat/
Using multipliers
(cost)*1.20 = $36
cost = 36/1.2 = 360/12 = $30

If he wants a 20% increase over cost on the sale of one liter of his milk-water, the cost has to be $30.

Well, a liter of milk costs $33, so if he is going to use just $30 of milk in his mixture, that's 30/33 = 10/11 of a liter. If milk is 10/11 of the liter, then water is 1/11 of the liter, and the ratio of water to milk is 1:10. Answer choice (B)

Does all this make sense?
Mike :-)


Approached this question as follows -

He needs to make a profit of 20%, which means he needs to sell the milk +water combination for 39.6 (20% of 33 +33)
Now, he plans to sell 1 liter of this solution of milk and water for 36. which means he needs to sell 1.1 liters of this solution to earn 39.6. (36 for 1 liter and so 39.6 for 1.1 liters)

Hence the water added would be .1 liter.

Therefore the ratio of water to milk is .1/1 = 1/10

Please suggest if this approach is correct. Thanks

Kudos [?]: 10 [0], given: 616

Expert Post
Veritas Prep GMAT Instructor
User avatar
G
Joined: 16 Oct 2010
Posts: 7677

Kudos [?]: 17402 [0], given: 232

Location: Pune, India
Re: A dishonest person wants to make a profit on the selling of [#permalink]

Show Tags

New post 26 May 2016, 20:37
Expert's post
1
This post was
BOOKMARKED
guerrero25 wrote:
A dishonest person wants to make a profit on the selling of milk. He would like to mix water (costing nothing) with milk costing 33 $ per litre so as to make a profit of 20% on cost when he sells the resulting milk and water mixture for 36$. In what ratio should he mix the water and milk?
(A)1:20
(B) 1:10
(C) 1:8
(D)1:4
(E)1:2


You can also use weighted averages.

Selling cost is $36 with profit of 20%.

Cost Price * 6/5 = $36
Cost Price = $30

Ww/Wm = (33 - 30)/(30 - 0) = 1/10 (Using weighted average formula discussed here: http://www.veritasprep.com/blog/2011/03 ... -averages/)

Put 1 part water for every 10 parts of milk. Answer (B)
_________________

Karishma
Veritas Prep | GMAT Instructor
My Blog

Get started with Veritas Prep GMAT On Demand for $199

Veritas Prep Reviews

Kudos [?]: 17402 [0], given: 232

Intern
Intern
avatar
Joined: 20 Oct 2014
Posts: 5

Kudos [?]: 9 [0], given: 1

Re: A dishonest person wants to make a profit on the selling of [#permalink]

Show Tags

New post 21 Aug 2016, 11:28
11 x 36 = 10 x 33 x 1.2

so...

1:10

Kudos [?]: 9 [0], given: 1

GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 09 Sep 2013
Posts: 16534

Kudos [?]: 274 [0], given: 0

Premium Member
Re: A dishonest person wants to make a profit on the selling of [#permalink]

Show Tags

New post 01 Oct 2017, 12:33
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
_________________

GMAT Books | GMAT Club Tests | Best Prices on GMAT Courses | GMAT Mobile App | Math Resources | Verbal Resources

Kudos [?]: 274 [0], given: 0

Re: A dishonest person wants to make a profit on the selling of   [#permalink] 01 Oct 2017, 12:33
Display posts from previous: Sort by

A dishonest person wants to make a profit on the selling of

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


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

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

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®.