A man bought 10 crates of oranges for $80 total. If he lost : Problem Solving (PS)

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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, 01:39

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Question Stats:

91% (01:11) correct

9% (01:44) wrong

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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

Spoiler: OA

Originally posted by scoobee on 12 Oct 2004, 13:39.
Last edited by Bunuel on 07 Jan 2013, 01:39, edited 1 time in total.

Edited the question and added the OA.

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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, 05:02

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, 09:23

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, 01:43

scoobee wrote:

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.

Answer: D.
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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, 23:52

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