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24 Feb 2019, 11:28
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
68% (01:54) correct
32%
(02:02)
wrong
based on 274
sessions
History
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A milk-man sells milk after mixing water to it to such a extent that water accounts for 20% of the mixture. If he sells at a mark-up rate of 10%, find his actual profit percentage.
1. 30%
2. 32%
3. 33.33%
4. 37.5%
5. 40%
1. 30%
2. 32%
3. 33.33%
4. 37.5%
5. 40%
24 Feb 2019, 23:17
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cfc198
A milk-man sells milk after mixing water to it to such a extent that water accounts for 20% of the mixture. If he sells at a mark-up rate of 10%, find his actual profit percentage.
1. 30%
2. 32%
3. 33.33%
4. 37.5%
5. 40%
1. 30%
2. 32%
3. 33.33%
4. 37.5%
5. 40%
Let us assume that cost of milk=100
He sells for 10% profit i.e. for 110
however his cost of milk is only 80 (since 20% is water and only 80% is milk)
now see cost price=80 and sell price=110
% profit= ((110-80)/80)*100=(30/80)*100=37.5%
General Discussion
24 Feb 2019, 21:03
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cfc198
A milk-man sells milk after mixing water to it to such a extent that water accounts for 20% of the mixture. If he sells at a mark-up rate of 10%, find his actual profit percentage.
1. 30%
2. 32%
3. 33.33%
4. 37.5%
5. 40%
1. 30%
2. 32%
3. 33.33%
4. 37.5%
5. 40%
80% gone wrong means that we have not been able to understand and convert the question properly.
Ok, the first sentence says that 20% is water, so only 80% is milk. Say 100 litres of mixture contains 80liter of milk.
Next the price has been increased by 10% so if the price was 200, it has become 200+10% of 200=200+20=220.
So, if 100 litre costed 200 earlier, 80 liter would cost (200/100)*80=2*80=160. Now that 80 litre is selling at 220, so a profit of 60 on 160..
As a %, (60/160)*100=600/16=75/2=37.5%
D
