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A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eg

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A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eg  [#permalink]

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New post 22 Jun 2018, 00:47
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A
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C
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Question Stats:

92% (01:27) correct 8% (02:19) wrong based on 607 sessions

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A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eggs for $0.90. What was the retailer's gross profit from purchasing and selling 5 dozen eggs? (1 dozen eggs = 12 eggs)


A. $0.90

B. $2.40

C. $4.00

D. $11.30

E. $12.00


NEW question from GMAT® Official Guide 2019


(PS09707)

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Re: A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eg  [#permalink]

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New post 22 Jun 2018, 01:15
The cost for the 5 dozens equals 5*2.8=14
From a dozen, the retailer can create 4 packages of 3 eggs. Hence, the profit from selling the 5 dozens equals 0.9*4*5=18

Gross Profit = Revenue - Cost = 18 - 14 = 4

The correct answer is C.
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Re: A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eg  [#permalink]

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New post 22 Jun 2018, 02:17
Cost price of 1 dozen = $2.8
Selling price of 1 dozen =$0.9*12/3 = $3.6

Profit on 1 dozen = $0.8

Profit on 5 dozens = $0.8*5 = $4; option C

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Re: A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eg  [#permalink]

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New post 22 Jun 2018, 02:42
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Bunuel wrote:
A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eggs for $0.90. What was the retailer's gross profit from purchasing and selling 5 dozen eggs? (1 dozen eggs = 12 eggs)


A. $0.90

B. $2.40

C. $4.00

D. $11.30

E. $12.0


NEW question from GMAT® Official Guide 2019


(PS09707)



we know,

Selling price - cost price = profit

cost price :

per dozen cost price is given but we are asked to find out the profit of 5 dozen.

5*2.80 = 14.00.

Selling price:

selling price of 3 eggs has given. We know 1 dozen = 12 eggs.

(12/3)*0.90 = 3.60., the price of 1 dozen.

3.60*5 = 18.00 , the price of 5 dozen.

Profit = 18 - 14 = 4

Thus the best answer is C.
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Re: A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eg  [#permalink]

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New post 23 Jun 2018, 00:02
Selling price of 3 eggs -> 3x = .90
Selling price of 12 -> 12x = 3.60
Cost of 12 -> 2.80
Difference = 3.60 - 2.80 = 0.8 = profit
For 5 dozen, 0.8 * 5 = 4.00 = profit

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Re: A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eg  [#permalink]

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New post 04 Jul 2018, 19:33
Bunuel wrote:
A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eggs for $0.90. What was the retailer's gross profit from purchasing and selling 5 dozen eggs? (1 dozen eggs = 12 eggs)


A. $0.90

B. $2.40

C. $4.00

D. $11.30

E. $12.00


We see that the retailer sold each egg for $0.90/3 = $0.30, and hence sold the eggs for $0.30 x 12 = $3.60 per dozen. Thus, the profit per dozen of eggs is 3.60 - 2.80 = $0.80, and so the gross profit for 5 dozen eggs is 0.80 x 5 = $4.00.

Answer: C
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Re: A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eg  [#permalink]

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New post 05 Jul 2018, 08:37
Bunuel wrote:
A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eggs for $0.90. What was the retailer's gross profit from purchasing and selling 5 dozen eggs? (1 dozen eggs = 12 eggs)


A. $0.90

B. $2.40

C. $4.00

D. $11.30

E. $12.00


NEW question from GMAT® Official Guide 2019


(PS09707)


Cost of 60 eggs is 2.80*5 = $ 14

The selling price of 60 eggs is 20*0.90 = $ 18

So, The retailer's gross profit from the sale of 60 eggs is $4, answer must be (C)
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Re: A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eg  [#permalink]

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New post 07 Feb 2019, 16:54
One option is:

1.Take the values (cost: 2.80 $) of the dozen, and represent the cost of a package of 3 (There are 4 packages of 3 in a dozen) = 2.8$ / 3 = 0.7 $
2.Now you can compare it with the sale price of 0.9 $ for a package of 3. Therefore the profit is 0.9 $ - 0.7 $ = 0.2$
3. Multiply the profit of the package * 4 (packages of 3 within a dozen) = 0.2$ * 4 = 0.8$ (This is the profit per dozen)
4. Multiply the profit per dozen per the total dozens sold (5) = 0.8 $ * 5 = 4.0$

Answer: C

Hope this helps!

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Re: A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eg   [#permalink] 07 Feb 2019, 16:54
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