GMAT Question of the Day: Daily via email | Daily via Instagram New to GMAT Club? Watch this Video

 It is currently 18 Feb 2020, 04:14

### 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

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

# A shopkeeper bought few oranges at 4 per dollar and an equal number of

Author Message
TAGS:

### Hide Tags

Manager
Joined: 24 Jun 2013
Posts: 142
Location: India
Schools: ISB '20, GMBA '20
A shopkeeper bought few oranges at 4 per dollar and an equal number of  [#permalink]

### Show Tags

06 May 2018, 02:34
9
00:00

Difficulty:

55% (hard)

Question Stats:

63% (02:12) correct 37% (03:11) wrong based on 82 sessions

### HideShow timer Statistics

A Shopkeeper bought few oranges at 4 per dollar and an equal number of oranges, of a different quality, at 6 per dollar. If he sold the mix of the two qualities at a dozen per 3 dollars, what was his percentage profit on the investment?

A) 10%
B) 15%
C) 16.67%
D) 20%
E) 25%

Source : Experts Global
Manager
Joined: 04 Apr 2015
Posts: 100
Re: A shopkeeper bought few oranges at 4 per dollar and an equal number of  [#permalink]

### Show Tags

06 May 2018, 03:48
1
Though my answer was wrong in the first attempt but I found the right method after

For the first variety, price per orange is 1/4(4 per dollar)
For the second variety, price per orange is 1/6(6 per dollar)

so the combine value of the mix, i.e for 2 oranges( 1st orange first variety and 2nd other variety) will be 5/12
so for the dozen(12) it will be 6 x 5/12(multiply by 6 as price of 2 oranges is calculated above), price will be 5/2 i.e 2.5

Now a dozen of the mix is sold for 3 dollars, therefore profit = 3-2.5=0.5 and perc =20%
Senior SC Moderator
Joined: 22 May 2016
Posts: 3702
A shopkeeper bought few oranges at 4 per dollar and an equal number of  [#permalink]

### Show Tags

06 May 2018, 16:43
2
1
doomedcat wrote:
A Shopkeeper bought few oranges at 4 per dollar and an equal number of oranges, of a different quality, at 6 per dollar. If he sold the mix of the two qualities at a dozen per 3 dollars, what was his percentage profit on the investment?

A) 10%
B) 15%
C) 16.67%
D) 20%
E) 25%

Source : Experts Global

Assign values. Use LCM of 3, 4 and 6. Cost and revenue will be in round numbers.

Let the # of oranges bought = 12 of each kind

Shopkeeper's cost

Cost of pricier oranges:
He bought 12 oranges at 4 oranges per $1 $$\frac{12}{4}=(3*1)=3$$ spent Cost of cheaper oranges: 12 oranges bought at 6 oranges per$1
$$\frac{12}{6}=(2*1)=2$$ spent

Total cost: $$5$$
Total oranges bought: $$(12+12)=24$$

Revenue
He sells 24 oranges at a dozen (12) per $3 $$\frac{24}{12}=(2*3)=6$$ in revenue Profit = (TR - TC) = ($6 - $5) =$1

What percent profit on investment?
$$(\frac{1}{5}*100)=(0.20*100)=20$$ percent

*Example of full equation, F = fruit (oranges)
Revenue: $$\frac{24F}{(\frac{12F}{3})}=(24F*\frac{3}{12F})=(2*3)=6$$

_________________
SC Butler has resumed! Get two SC questions to practice, whose links you can find by date, here.

Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has -- Margaret Mead
VP
Joined: 07 Dec 2014
Posts: 1235
Re: A shopkeeper bought few oranges at 4 per dollar and an equal number of  [#permalink]

### Show Tags

07 May 2018, 20:02
doomedcat wrote:
A Shopkeeper bought few oranges at 4 per dollar and an equal number of oranges, of a different quality, at 6 per dollar. If he sold the mix of the two qualities at a dozen per 3 dollars, what was his percentage profit on the investment?

A) 10%
B) 15%
C) 16.67%
D) 20%
E) 25%

Source : Experts Global

let x=number of oranges
total cost=25*x+16 2/3*x
total revenue=2x*25
50x/(41 2/3x)=1.2
20%
D
Target Test Prep Representative
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 9426
Location: United States (CA)
Re: A shopkeeper bought few oranges at 4 per dollar and an equal number of  [#permalink]

### Show Tags

08 May 2018, 10:25
doomedcat wrote:
A Shopkeeper bought few oranges at 4 per dollar and an equal number of oranges, of a different quality, at 6 per dollar. If he sold the mix of the two qualities at a dozen per 3 dollars, what was his percentage profit on the investment?

A) 10%
B) 15%
C) 16.67%
D) 20%
E) 25%

We can let the number of dozens of oranges bought at 4 per dollar = n = the number of dozens oranges bought at 6 per dollar. (In this case, the number of oranges bought at either quality is 12n.)

Thus the total number of dozens of oranges bought = n + n = 2n and the total cost = 12n/4 + 12n/6 = 3n + 2n = 5n.

Since he sold them at a dozen per 3 dollars, the total revenue = 2n x 3 = 6n.

Thus the profit = 6n - 5n = n and the percentage profit on the investment was:

n/(5n) = 1/5 = 20%

_________________

# Scott Woodbury-Stewart

Founder and CEO

Scott@TargetTestPrep.com
181 Reviews

5-star rated online GMAT quant
self study course

See why Target Test Prep is the top rated GMAT quant course on GMAT Club. Read Our Reviews

If you find one of my posts helpful, please take a moment to click on the "Kudos" button.

Intern
Joined: 23 Aug 2017
Posts: 23
A shopkeeper bought few oranges at 4 per dollar and an equal number of  [#permalink]

### Show Tags

09 May 2018, 10:40
Total bought were 12, then 1/4x + 1/6x. Equal number of each type of orange, so 6 of each, then:
1/4*6 + 1/6*6 = 3/2 + 1 = 5/2= 2.5. The shopkeeper invested 2.5 dollar.
If the shopkeeper sold the dozen per 3 dollar so he had a profit of 0.5 dolar, then 0.5/2.5 equals 1/5 or 0.2 or 20%.
Option D.

P.s.: But I got wrong in my first attempt.
Experts' Global Representative
Joined: 19 Feb 2010
Posts: 237
Re: A shopkeeper bought few oranges at 4 per dollar and an equal number of  [#permalink]

### Show Tags

25 May 2019, 08:27
Happy to see this discussion.

Here is the official video explanation by us-

Hope this helps.

All the best!
Experts' Global

doomedcat wrote:
A Shopkeeper bought few oranges at 4 per dollar and an equal number of oranges, of a different quality, at 6 per dollar. If he sold the mix of the two qualities at a dozen per 3 dollars, what was his percentage profit on the investment?

A) 10%
B) 15%
C) 16.67%
D) 20%
E) 25%

Source : Experts Global

_________________
Re: A shopkeeper bought few oranges at 4 per dollar and an equal number of   [#permalink] 25 May 2019, 08:27
Display posts from previous: Sort by