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28 Jun 2017, 03:41
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A farmer produced 750 bushels of a certain crop at a cost of $20 per bushel. If the farmer sold (2/3)rd of the bushels for double their production cost and sold the remaining bushels at 25 percent above their production cost, what was the farmer’s gross profit on the sale of the crop? (A)$11250
(B) $13375 (C)$15000
(D) $18750 (E)$26250

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28 Jun 2017, 04:17
2/3 (750) * 40 + (750/3) * 25 = $20,000 +$6,250 = $26,250 Gross Profit =$26,250 - (750*$20) =$26,250 - $15,000 =$11,250. Ans - A.
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A farmer produced 750 bushels of a certain crop at a cost of $20 per [#permalink] ### Show Tags Updated on: 28 Jun 2017, 06:55 Bunuel wrote: A farmer produced 750 bushels of a certain crop at a cost of$20 per bushel. If the farmer sold (2/3)rd of the bushels for double their production cost and sold the remaining bushels at 25 percent above their production cost, what was the farmer’s gross profit on the sale of the crop?

(A) $11250 (B)$13375
(C) $15000 (D)$18750
(E) $26250 Short Cut Method On $$\frac{2}{3}$$ of production, Gross profit earned was = 100% of$20 = $20 On $$\frac{1}{3}$$ of production, Gross profit earned was =$25% of 20 = $5 Weighted average of Gross Profit/Bushel = $$\frac{2}{3}$$ 20 + $$\frac{1}{3}$$ 5 = $$\frac{45}{3}$$ = 15 Total Gross Profit = 15 x 750 = 11250 Hence Answer A _________________ If you like the post, show appreciation by pressing Kudos button Originally posted by elegantm on 28 Jun 2017, 05:39. Last edited by elegantm on 28 Jun 2017, 06:55, edited 2 times in total. Senior PS Moderator Joined: 26 Feb 2016 Posts: 3207 Location: India GPA: 3.12 A farmer produced 750 bushels of a certain crop at a cost of$20 per  [#permalink]

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28 Jun 2017, 06:25
If the cost of production per bushel is x$From the question stem we know that CP : 750x SP : $$500(2x) + 250(\frac{5x}{4}) = 1000x + (\frac{1250x}{4}) = \frac{5250x}{4}$$ Profit earned(due to sale of bushel) =$$\frac{5250x}{4}- 750x$$ = $$\frac{(5250x - 3000x)}{4} = \frac{2250x}{4}$$ Since we are given the cost of producing the bushel = 20$(in question stem, putting x=20$) Cost : $$2250*\frac{20}{4}$$ = 2250*5 = 11250$(Option A)
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A farmer produced 750 bushels of a certain crop at a cost of $20 per [#permalink] ### Show Tags 28 Jun 2017, 09:14 Bunuel wrote: A farmer produced 750 bushels of a certain crop at a cost of$20 per bushel. If the farmer sold (2/3)rd of the bushels for double their production cost and sold the remaining bushels at 25 percent above their production cost, what was the farmer’s gross profit on the sale of the crop?

(A) $11250 (B)$13375
(C) $15000 (D)$18750
(E) $26250 Total cost of production =$ 15000

Quote:
If the farmer sold (2/3)rd of the bushels for double their production cost

Selling price of 2/3 rd of the bushels = 10000*2 => 20000

Quote:
sold the remaining bushels at 25 percent above their production cost

Selling price of remaining is $$\frac{125}{100}*5000$$ = 6250

Gross Profit = $$20000 + 6250 - 15000$$

So, Gross Profit is (A) 11250
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Re: A farmer produced 750 bushels of a certain crop at a cost of $20 per [#permalink] ### Show Tags 29 Jun 2017, 01:48 A farmer produced 750 bushels of a certain crop at a cost of$20 per bushel. If the farmer sold (2/3)rd of the bushels for double their production cost and sold the remaining bushels at 25 percent above their production cost, what was the farmer’s gross profit on the sale of the crop?

Cost of Producing 750 Bushels $$= 750 *  20 =  15,000$$

2/3 Bushels $$= 750 * \frac{2}{3} = 500$$

2/3 Bushels sold at double the cost $$= 20 * 2 = 40$$

Profit per Bushels for 2/3 sold at double cost $$= 40 - 20 = 20$$

Total Profit by selling 2/3 Bushels at double cost $$= 500 * 20 = 10,000$$ ------------------------(1)

Remaining, or 1/3 of Bushels sold at 5% profit $$= 20 + \frac{5}{100} * 20 = 20 +  5 = 25$$

Profit per Bushels for 1/3 sold at 5% profit $$= 25 - 20 = 5$$

Total profit by selling 1/3 Bushels at 5% profit $$= 5 * 250 = 1,250$$ ------------------------(1)

From (1) & (2) Total Profit

$$10,000 + 1,250 = 11,250$$

Hence, Answer is A
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Re: A farmer produced 750 bushels of a certain crop at a cost of $20 per [#permalink] ### Show Tags 30 Jun 2017, 09:21 Bunuel wrote: A farmer produced 750 bushels of a certain crop at a cost of$20 per bushel. If the farmer sold (2/3)rd of the bushels for double their production cost and sold the remaining bushels at 25 percent above their production cost, what was the farmer’s gross profit on the sale of the crop?

(A) $11250 (B)$13375
(C) $15000 (D)$18750
(E) $26250 We are given that the farmer sold 2/3 of the bushels for double their production cost; thus, he sold them for: 750(2/3)(40) = (500)(40) =$20,000

He also sold the remaining 1/3 of the bushels at 25 percent above their product cost; thus, he sold them for:

(750)(1/3)(1.25)(20) = (250)(25) = $6,250 His cost is 750(20) =$15,000.

Thus, the profit was:

20,000 + 6,250 - 15,000= $11,250 Answer: A _________________ Scott Woodbury-Stewart Founder and CEO GMAT Quant Self-Study Course 500+ lessons 3000+ practice problems 800+ HD solutions Re: A farmer produced 750 bushels of a certain crop at a cost of$20 per &nbs [#permalink] 30 Jun 2017, 09:21
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