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# A man bought 10 crates of oranges for \$80 total. If he lost

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Intern
Joined: 02 Sep 2004
Posts: 41
A man bought 10 crates of oranges for \$80 total. If he lost  [#permalink]

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Updated on: 07 Jan 2013, 00:39
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00:00

Difficulty:

5% (low)

Question Stats:

91% (01:14) correct 9% (01:44) wrong based on 161 sessions

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A man bought 10 crates of oranges for \$80 total. If he lost 2 of the crates, at what price would he have to sell each of the remaining crates in order to earn a total profit of 25 percent of the total cost?

A. \$10.00
B. \$10.50
C. \$12.00
D. \$12.50
E. \$120.00

Originally posted by scoobee on 12 Oct 2004, 12:39.
Last edited by Bunuel on 07 Jan 2013, 00:39, edited 1 time in total.
Edited the question and added the OA.
Manager
Joined: 28 Dec 2012
Posts: 102
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Re: A man bought 10 crates of oranges for \$80 total. If he lost  [#permalink]

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05 Jan 2013, 04:02
Cost per crate is 8\$.
Now he lost 2 crates out of 10 that means quantity lost is 20%. To recover loss from this loss he should increase price by 25% ( 2/10 loss in quantity => 2/8 rise in cost on remaining for break-even). Thus break-even price for remaining 8 crates is 10 \$ (8*125/100 or 8* 10/8).

Now he wants 25% profit on top of this. So he should raise break-even price by 25%. So the answer is 12.5\$

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Re: A man bought 10 crates of oranges for \$80 total. If he lost  [#permalink]

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05 Jan 2013, 08:23
10 Crates for \$80
25% Profit over \$80 = (5/4)*\$80 = \$100

Lost 2 Crates, So remaining Crates 10-2 = 8 Crates

8 Crates he has to sell for \$100
so, 1 Crate for \$100/8 = \$12.5
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Re: A man bought 10 crates of oranges for \$80 total. If he lost  [#permalink]

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07 Jan 2013, 00:43
scoobee wrote:
A man bought 10 crates of oranges for \$80 total. If he lost 2 of the crates, at what price would he have to sell each of the remaining crates in order to earn a total profit of 25 percent of the total cost?

A. \$10.00
B. \$10.50
C. \$12.00
D. \$12.50
E. \$120.00

The total cost is \$80. In order to earn a total profit of 25% the total sales must be 80*1.25 = \$100.

Thus he must sell each of he remaining crates for 100/8 = \$12.5.

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Re: A man bought 10 crates of oranges for \$80 total. If he lost  [#permalink]

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25 Dec 2017, 22:52
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).

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Re: A man bought 10 crates of oranges for \$80 total. If he lost &nbs [#permalink] 25 Dec 2017, 22:52
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# A man bought 10 crates of oranges for \$80 total. If he lost

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