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A grocer purchased 50 identical cans of soup for a total cost of x

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Senior Manager
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G
Joined: 26 Dec 2015
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Location: United States (CA)
Concentration: Finance, Strategy
WE: Investment Banking (Venture Capital)
A grocer purchased 50 identical cans of soup for a total cost of x [#permalink]

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New post 23 Apr 2017, 07:55
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A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

76% (00:59) correct 24% (01:07) wrong based on 59 sessions

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A grocer purchased 50 identical cans of soup for a total cost of x dollars. If the grocer then sells each can at 10% above its original cost, then in terms of x, for how many dollars would each can sell?

A) 110x-100

B) \(\frac{11x}{10}\)

C) \(\frac{11x}{5}\)

D) \(\frac{11x}{500}\)

E) 110x
[Reveal] Spoiler: OA
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Re: A grocer purchased 50 identical cans of soup for a total cost of x [#permalink]

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New post 23 Apr 2017, 10:11
Let x = 100

Each can is of $2.
Now each can is sold at 10% profit or $2.2

Total value of sold product = 2.2*50 = 110

Profit = 110-100 = 10

Each can profit = 10/50 = 0.2

Substitute x=100 in each option. Only D satisfies and hence is the answer.
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Re: A grocer purchased 50 identical cans of soup for a total cost of x [#permalink]

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New post 25 Apr 2017, 00:52
cost price of 50cans = x
selling price of 50 cans= 1.1x (if each can is raised by 10% the total also raises by 10%)

selling price of 1 can = 1.1x/50 = 11x/500
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Engineer, Quant score 53 First attempt.

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Joined: 21 Aug 2013
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Re: A grocer purchased 50 identical cans of soup for a total cost of x [#permalink]

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New post 20 May 2017, 03:31
Since each can costs the same and he sells each can at 10% above cost price,
Overall also the selling price will be 10% above total cost price.

So total selling price of 50 cans = 10% more than x = 1.1 x

Thus, selling price of 1 can = 1.1x/50 = 11x/500

So the answer is D
Re: A grocer purchased 50 identical cans of soup for a total cost of x   [#permalink] 20 May 2017, 03:31
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A grocer purchased 50 identical cans of soup for a total cost of x

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