GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 25 Sep 2018, 18:27

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.

Close

Request Expert Reply

Confirm Cancel

A person bought 150 packets of choclate. He was able to sell 1/3...

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Intern
Intern
avatar
Joined: 02 May 2012
Posts: 10
A person bought 150 packets of choclate. He was able to sell 1/3...  [#permalink]

Show Tags

New post 07 Jan 2015, 08:15
3
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

86% (02:50) correct 14% (03:23) wrong based on 100 sessions

HideShow timer Statistics

A person bought 150 packets of chocolate. He was able to sell 1/3 of them at a 5% profit, another 1/3 of them at zero profit and the remainder was sold at a 10% loss. Find the total profit or loss made by the person after selling those 150 packets. A packet sold at a loss had a price of $9.

A: 0
B: Profit of $20
C: Loss of $25
D: Profit of $30
E: Loss of $35

It's a bit confusing to say 5% of profit. Please provide an intuitive answer if possible. Thanks!!
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 49496
Re: A person bought 150 packets of choclate. He was able to sell 1/3...  [#permalink]

Show Tags

New post 07 Jan 2015, 08:21
iNumbv wrote:
A person bought 150 packets of chocolate. He was able to sell 1/3 of them at a 5% profit, another 1/3 of them at zero profit and the remainder was sold at a 10% loss. Find the total profit or loss made by the person after selling those 150 packets. A packet sold at a loss had a price of $9.

A: 0
B: Profit of $20
C: Loss of $25
D: Profit of $30
E: Loss of $35

It's a bit confusing to say 5% of profit. Please provide an intuitive answer if possible. Thanks!!


A packet sold at a 10% loss had a price of $9, thus the cost of a packet is $10.

50 packets was sold at a 5% profit --> gives profit of 10*0.05*50 = $25.
50 packets was sold at a 10% loss --> gives loss of 10*0.1*50 = $50.

The overall loss is $25 - $50 = $25.

Answer: C.
_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Current Student
User avatar
B
Joined: 24 Dec 2014
Posts: 103
Concentration: Strategy, General Management
GMAT 1: 750 Q50 V41
Reviews Badge
A person bought 150 packets of choclate. He was able to sell 1/3...  [#permalink]

Show Tags

New post 07 Jan 2015, 08:26
It doesn't state 5% of profit, it says "a 5% profit"

150 packets
1/3 (150) at a loss of 10%
1/3 (150) no profit - (you can remove this from your calculation since it doesn't contribute to profit or loss)
1/3 (150) at a 5% profit

Each of packets sold at a loss was 10% below what the cost was resulting in a loss, they were sold for $9.00

$10 = $9 with a 10% loss
$10 = original price
$10.50 = original price with 5% profit


50 (packs with a profit) * $10.50 - 50 (packs with a loss) * $9 = -$25.00 loss

Hope this helps,




iNumbv wrote:
A person bought 150 packets of chocolate. He was able to sell 1/3 of them at a 5% profit, another 1/3 of them at zero profit and the remainder was sold at a 10% loss. Find the total profit or loss made by the person after selling those 150 packets. A packet sold at a loss had a price of $9.

A: 0
B: Profit of $20
C: Loss of $25
D: Profit of $30
E: Loss of $35

It's a bit confusing to say 5% of profit. Please provide an intuitive answer if possible. Thanks!!
EMPOWERgmat Instructor
User avatar
V
Status: GMAT Assassin/Co-Founder
Affiliations: EMPOWERgmat
Joined: 19 Dec 2014
Posts: 12459
Location: United States (CA)
GMAT 1: 800 Q51 V49
GRE 1: Q170 V170
Re: A person bought 150 packets of choclate. He was able to sell 1/3...  [#permalink]

Show Tags

New post 07 Jan 2015, 12:33
Hi iNumbv,

The math involved in this question can be done in a variety of ways; it's just a matter of what method you find most comfortable.

Here, we're told that a person bought 150 packets of chocolate...

We can say that 1 packet cost $X

We then sell 50 each at....
a 5% profit = 1.05X each
a 0% profit = 1X each
a 10% loss = .9X each

Since the question focuses on the net profit or loss, we can ignore the 50 packets we sold for a 0% profit and focus on the other 100.

50(1.05X + .9X) =
50(1.95X)

IF we had 50(2X), then we would have 0 profit.
Here we have 50(1.95X), so we clearly lost money.

The .05X that we lost can be quantified as 50(.05X) = 2.5X
Once we know the purchase price (X) of each packet, then we can just plug in and we'll know the total loss.

We're told that the price of a "10% loss" packet = $9, so the original price = $10. We can plug that in for X...

2.5(10) = 25 dollars lost

Final Answer:

GMAT assassins aren't born, they're made,
Rich
_________________

760+: Learn What GMAT Assassins Do to Score at the Highest Levels
Contact Rich at: Rich.C@empowergmat.com

Rich Cohen

Co-Founder & GMAT Assassin

Special Offer: Save $75 + GMAT Club Tests Free
  Official GMAT Exam Packs + 70 Pt. Improvement Guarantee
www.empowergmat.com/

***********************Select EMPOWERgmat Courses now include ALL 6 Official GMAC CATs!***********************

SVP
SVP
User avatar
Status: The Best Or Nothing
Joined: 27 Dec 2012
Posts: 1834
Location: India
Concentration: General Management, Technology
WE: Information Technology (Computer Software)
Re: A person bought 150 packets of choclate. He was able to sell 1/3...  [#permalink]

Show Tags

New post 07 Jan 2015, 22:41
Lets put only 100 chocolates in the question, as rest 50 did not make any difference in profit/loss

Chocolate sold at 9 made a loss of 10%, means

Cost price \(= 9*\frac{100}{90} = 10\)

50 Chocolates at 5% profit

\(= 50 * 10*\frac{105}{100} = 525\)

50 chocolates at 10% loss

= 50 * 9 = 450

Total Selling price = 525+450 = 975

Total Cost price = 100*10 = 1000

Loss = 25

Answer = C
_________________

Kindly press "+1 Kudos" to appreciate :)

Non-Human User
User avatar
Joined: 09 Sep 2013
Posts: 8191
Premium Member
Re: A person bought 150 packets of choclate. He was able to sell 1/3...  [#permalink]

Show Tags

New post 05 Sep 2018, 04:06
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

GMAT Club Bot
Re: A person bought 150 packets of choclate. He was able to sell 1/3... &nbs [#permalink] 05 Sep 2018, 04:06
Display posts from previous: Sort by

A person bought 150 packets of choclate. He was able to sell 1/3...

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  

Events & Promotions

PREV
NEXT


Copyright

GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.