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A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink]

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17 Aug 2015, 14:32

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A

B

C

D

E

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55% (hard)

Question Stats:

66% (02:07) correct 34% (01:21) wrong based on 146 sessions

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A grocer buys apples for 63¢ per pound. If 10% of the apples goes bad and he still wants to make a 20% profit over his purchase price, what should be the sales price?

Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink]

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17 Aug 2015, 15:31

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peketoons wrote:

A grocer buys apples for 63¢ per pound. If 10% of the apples goes bad and he still wants to make a 20% profit over his purchase price, what should be the sales price?

A) 66¢ B) 70¢ C) 75¢ D) 77¢ E) 84¢

Source : BARRONS - Gmat Math Workbook

The OA should be E and not D

Let the grocer buys 10 lb of apples @63 cents per lb. Total purchase price = 0.63*10 = 6.3$

'Good' apples =0.9*10=9lb

Let p be the price per lb of apple that he sold at

Thus, per the question ---> \(\frac{9p-6.3}{6.3} = 0.2\) -----> p = 0.84 $ / lb. E is the correct answer.

Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink]

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17 Aug 2015, 21:54

peketoons wrote:

A grocer buys apples for 63¢ per pound. If 10% of the apples goes bad and he still wants to make a 20% profit over his purchase price, what should be the sales price?

Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink]

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22 May 2016, 11:40

peketoons wrote:

A grocer buys apples for 63¢ per pound. If 10% of the apples goes bad and he still wants to make a 20% profit over his purchase price, what should be the sales price?

A) 66¢ B) 70¢ C) 75¢ D) 77¢ E) 84¢

Source : BARRONS - Gmat Math Workbook

for making calculation simple let us consider he buys 10pounds @ 63/pound=630¢ in total . 10% apples lost...means 9 pounds left. further he wants 20% profit on 630 ¢ means he wants to earn 756¢ sales price should be 756/9==¢ 84 Ans E

Concentration: General Management, International Business

GPA: 3.65

Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink]

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28 Sep 2016, 07:30

He spent 63 cents for 1 pound... 10 % apple were bad... so he effectively bought 0.9 pound for 63 cents... so cost price per pound for him = 63/0.9 = 70 cents...

Now he wants a 20% profit on this price... so his selling price will be 70*1.2 = 84 cents

Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink]

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01 Mar 2017, 02:25

Let us assume that he bought x pounds. CP = 63x. If 10% of apple goes bad that mean he has 0.9x apple. SP for 0.9x should be 63x*1.2=75.6x Sp per pound will be 75.6x/0.9x = 84. Option E

Concentration: General Management, Entrepreneurship

GPA: 3.8

WE: Engineering (Energy and Utilities)

Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink]

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02 Sep 2017, 09:50

peketoons wrote:

A grocer buys apples for 63¢ per pound. If 10% of the apples goes bad and he still wants to make a 20% profit over his purchase price, what should be the sales price?

A) 66¢ B) 70¢ C) 75¢ D) 77¢ E) 84¢

Source : BARRONS - Gmat Math Workbook

After 10% apple goes bad only 90% apple is left. SO, lets say there is only 100 pound of apple. Now apple left = 90 pound. Also cost price = 63¢ per pound So, grocer wants to get a total value of money = 63*1.2*100 ¢

Now let the actual sales price be x So, x * 90 = 63 * 1.2 * 100 x = 7 * 1.2 * 10 = 84 ¢

Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink]

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11 Sep 2017, 03:09

Let there be 10 apples Cost of apples=63*10=630 20% of 630=1.2X630=756. 10% apples go bad only 9 are left out of 10. Let x be the selling price. 9x=756 X=756/9=84

A grocer buys apples for 63¢ per pound. If 10% of the apples goes bad and he still wants to make a 20% profit over his purchase price, what should be the sales price?

A) 66¢ B) 70¢ C) 75¢ D) 77¢ E) 84¢

We can let n = the number of apples purchased. The cost to the grocer for the n apples is 63n cents. Since 10% go bad, 0.9n apples are sold. We can let the sales price of each apple = p cents and create the following equation:

0.9np - 63n = 0.2(63n)

0.9np - 63n = 12.6n

0.9np = 75.6n

p = 84

Answer: E
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