NEW HERE? LEARN MORE
closeclose
It is currently 19 Apr 2024, 21:53
Register
GMAT Focus Tests
Decision Tracker
My Rewards
New posts
New comers' posts

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.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel

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

10 posts Go to First Unread Post
Print view
NEW TOPIC
POST REPLY
Question banks

GMAT Question Banks

Downloads
My Bookmarks
Reviews
SORT BY:
Date
Kudos
avatar
peketoons
Intern
Intern
Joined: 13 May 2015
Posts: 2
Concentration: Strategy, Technology
Schools: Stanford '18 Anderson FEMBA '18 Wharton '18 IESE '18 HBS '18 Haas EMBA'18 LBS EMBA'18
GMAT Date: 07-20-2015
GMAT ToolKit User
A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink] New post  Updated on: 18 Aug 2015, 00:58
8
Bookmarks
00:00
A
B
C
D
E

Difficulty:

35% (medium)

Question Stats:

74% (02:17) correct 26% (02:07) wrong based on 164 sessions
Hide Show timer Statistics
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
ShowHide Answer
Official Answer
Official Answer and Stats are available only to registered users. Register/Login.

Originally posted by peketoons on 17 Aug 2015, 15:32.
Last edited by Bunuel on 18 Aug 2015, 00:58, edited 1 time in total.
Edited the OA.
User avatar
G
ENGRTOMBA2018
SVP
SVP
Joined: 20 Mar 2014
Posts: 2362
Concentration: Finance, Strategy
Schools: Kellogg '18 (M)
GMAT 1: 750 Q49 V44
GPA: 3.7
WE:Engineering (Aerospace and Defense)
GMAT ToolKit User Reviews Badge
Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink] New post  17 Aug 2015, 16:31
1
Kudos
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.
_________________
My Kellogg Journey (2016-2018): https://gmatclub.com/forum/my-kellogg-journey-325661.html
Thursday with Ron updated list as of July 1st, 2015: https://gmatclub.com/forum/consolidated-thursday-with-ron-list-for-all-the-sections-201006.html#p1544515
Rules for Posting in Quant Forums: https://gmatclub.com/forum/rules-for-posting-please-read-this-before-posting-133935.html
Writing Mathematical Formulae in your posts: https://gmatclub.com/forum/rules-for-posting-please-read-this-before-posting-133935.html#p1096628
GMATCLUB Math Book: https://gmatclub.com/forum/gmat-math-book-in-downloadable-pdf-format-130609.html
Everything Related to Inequalities: https://gmatclub.com/forum/inequalities-made-easy-206653.html#p1582891
Inequalities tips: https://gmatclub.com/forum/inequalities-tips-and-hints-175001.html
Debrief, 650 to 750: https://gmatclub.com/forum/650-to-750-a-10-month-journey-to-the-score-203190.html
Signature Read More
User avatar
L
rohit8865
Director
Director
Joined: 05 Mar 2015
Posts: 852
Reviews Badge
Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink] New post  22 May 2016, 12:40
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
avatar
thapliya
Intern
Intern
Joined: 23 Apr 2016
Posts: 15
Location: Finland
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] New post  28 Sep 2016, 08:30
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
avatar
B
Joc456
Manager
Manager
Joined: 26 Jan 2016
Posts: 78
Location: United States
Schools: CBS '19 (D) Anderson '19 (A) Marshall '19 (A) Stern '19 (A)
GPA: 3.37
Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink] New post  28 Sep 2016, 09:43
I picked an easy number for the number of pounds 10.

So if he bought 10lbs he paid $6.30 cents. However 10% (1lb) was rotten, so he really paid $6.30 for 9lbs.

6.3/9=0.70 (actual amount he paid per lb). He wants to make a 20% profit per lb. 0.70+20%=0.84. E
User avatar
S
KrishnakumarKA1
Senior Manager
Senior Manager
Joined: 05 Jan 2017
Posts: 416
Location: India
Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink] New post  01 Mar 2017, 03:25
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
User avatar
D
shashankism
Director
Director
Joined: 13 Mar 2017
Affiliations: IIT Dhanbad
Posts: 628
Location: India
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] New post  02 Sep 2017, 10:50
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 ¢

Answer E
User avatar
B
gps5441
Manager
Manager
Joined: 04 May 2014
Posts: 114
Location: India
WE:Sales (Mutual Funds and Brokerage)
Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink] New post  11 Sep 2017, 04:09
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
User avatar
P
JeffTargetTestPrep
Target Test Prep Representative
Joined: 04 Mar 2011
Status:Head GMAT Instructor
Affiliations: Target Test Prep
Posts: 3043
Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink] New post  14 Sep 2017, 10:38
Expert Reply
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¢


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
_________________
See why Target Test Prep is the top rated GMAT course on GMAT Club. Read Our Reviews
Signature Read More
User avatar
bumpbot
Non-Human User
Joined: 09 Sep 2013
Posts: 32547
Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink] New post  15 May 2022, 04:23
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
Signature Read More
GMAT Club Bot
gmatclubot
Re: A grocer buys apples for 63c per pound. If 10% of the apples goes bad [#permalink]
15 May 2022, 04:23
NEW TOPIC
POST REPLY
Downloads
My Bookmarks
Reviews
Moderators:
Bunuel
Math Expert
92760 posts
yashikaaggarwal
Senior Moderator - Masters Forum
3137 posts

cron

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne
Main navigation
GMAT Resources
Partners
MBA Resources
www.gmac.com|www.mba.com | | GMAT Club Rules | Terms and Conditions