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A farmer produced 750 bushels of a certain crop at a cost of $20 per
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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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Re: A farmer produced 750 bushels of a certain crop at a cost of $20 per
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28 Jun 2017, 04:11
Couple of different ways to go about this.... here is one:
**Notice that the problem is asking for profit so we have to subtract cost from revenue**
Find the total cost: 750 * 20 = 15000
Break the cost up into 1/3rds of production 15000/3 = 5000
2/3rds of the crops are sold for double their cost 10000*2  5000*2 = 10000
1/3 is sold for 25% more than cost 5000*1.25  5000 = 1250
10000+1250 = 11250
answer A



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Re: A farmer produced 750 bushels of a certain crop at a cost of $20 per
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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
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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 MethodOn \(\frac{2}{3}\) 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
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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.



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A farmer produced 750 bushels of a certain crop at a cost of $20 per
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28 Jun 2017, 06:25
If the cost of production per bushel is x$ 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
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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
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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
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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
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Re: A farmer produced 750 bushels of a certain crop at a cost of $20 per
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12 Feb 2019, 05:04
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?
Initial price = 750 * 20 = 15000 New price = 500 * 40(double of 20) + 250 *25 ( 25 percent above their production cost) = 26250 Profit = 26250  15000 $11250
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Re: A farmer produced 750 bushels of a certain crop at a cost of $20 per
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12 Feb 2019, 05:29
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 Using weighted average: 100% profit on (2/3)rd of the bushels and 25% profit on (1/3)rd of the bushels. \(Aavg = \frac{100*(2/3) + 25*(1/3)}{1} = 75\) Average profit is 75% over the entire crop. \(Profit = (\frac{75}{100}) * (750*20) = $11250\) Answer (A)
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Re: A farmer produced 750 bushels of a certain crop at a cost of $20 per
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12 Feb 2019, 06:02
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 investment = 750 * 20 ; 15,000 out of 750 ; 2/3 ; 500 were sold at 40 $ = 20,000 and other 250 @ 1.25 * 20 = 25 * 250 = 6250 total earned = 20,000+6250 = 26250 gross profit = 2650015000; 11250 IMO A
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Re: A farmer produced 750 bushels of a certain crop at a cost of $20 per
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