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A shopkeeper buys a consignment of 24,000 juice containers for $60,000

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A shopkeeper buys a consignment of 24,000 juice containers for $60,000  [#permalink]

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New post 22 Oct 2019, 23:28
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A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

73% (02:48) correct 27% (02:47) wrong based on 30 sessions

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A shopkeeper buys a consignment of 24,000 juice containers for $60,000. He immediately sold 3/4 of the containers, each at 20 percent above the cost per container. Next day, the remaining containers were sold at a price per container equal to 20 percent less than the cost per container. What was the percent profit on the consignment?

(A) 7.5%
(B) 10%
(C) 13.5%
(D) 20%
(E) 22.5%

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Re: A shopkeeper buys a consignment of 24,000 juice containers for $60,000  [#permalink]

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New post 23 Oct 2019, 00:30
Bunuel wrote:
A shopkeeper buys a consignment of 24,000 juice containers for $60,000. He immediately sold 3/4 of the containers, each at 20 percent above the cost per container. Next day, the remaining containers were sold at a price per container equal to 20 percent less than the cost per container. What was the percent profit on the consignment?

(A) 7.5%
(B) 10%
(C) 13.5%
(D) 20%
(E) 22.5%



Cost per container = 60000/24000 = 2.5.

Cost price above 20% = 2.5 * 1.2 = 3.

Cost price below 20% = 2.5 * 0.8 = 2.

Number of containers sold at 3 = 24000 * 3/4 = 18000

Profit (18000) = 18000 * 3 = 54000

Remaining container (6000) were sold at 2 = 6000 * 2 = 12000

Total revenue = 54000 + 12000 = 66000

Cost price = 60000

Profit = 66000 - 60000 = 6000.

Required % = 6000/60000 * 100 = 10%

B is the correct answer.
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Re: A shopkeeper buys a consignment of 24,000 juice containers for $60,000  [#permalink]

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New post 23 Oct 2019, 11:41
Bunuel wrote:
A shopkeeper buys a consignment of 24,000 juice containers for $60,000. He immediately sold 3/4 of the containers, each at 20 percent above the cost per container. Next day, the remaining containers were sold at a price per container equal to 20 percent less than the cost per container. What was the percent profit on the consignment?

(A) 7.5%
(B) 10%
(C) 13.5%
(D) 20%
(E) 22.5%


CP/ Container is \(\frac{60,000}{24,000} = 2.50\)

SP of 3/4 Container is \(24000*2.50*\frac{120}{100}*\frac{3}{4} = 54000\)
SP of 1/4 Container is \(24000*2.50*\frac{80}{100}*\frac{1}{4} = 12000\)

So, Total SP of 24000 Containers is 66,000

Thus, There is a profit of 10% from the sale of 24000 containers, Answer must be (B)
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Re: A shopkeeper buys a consignment of 24,000 juice containers for $60,000   [#permalink] 23 Oct 2019, 11:41
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