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22 Oct 2019, 23:28
00:00

Difficulty:

35% (medium)

Question Stats:

74% (02:48) correct 26% (02:59) wrong based on 39 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% _________________ VP Joined: 31 Oct 2013 Posts: 1491 Concentration: Accounting, Finance GPA: 3.68 WE: Analyst (Accounting) Re: A shopkeeper buys a consignment of 24,000 juice containers for$60,000  [#permalink]

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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. Board of Directors Status: QA & VA Forum Moderator Joined: 11 Jun 2011 Posts: 4835 Location: India GPA: 3.5 WE: Business Development (Commercial Banking) Re: A shopkeeper buys a consignment of 24,000 juice containers for$60,000  [#permalink]

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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) _________________ Thanks and Regards Abhishek.... PLEASE FOLLOW THE RULES FOR POSTING IN QA AND VA FORUM AND USE SEARCH FUNCTION BEFORE POSTING NEW QUESTIONS How to use Search Function in GMAT Club | Rules for Posting in QA forum | Writing Mathematical Formulas |Rules for Posting in VA forum | Request Expert's Reply ( VA Forum Only ) Re: A shopkeeper buys a consignment of 24,000 juice containers for$60,000   [#permalink] 23 Oct 2019, 11:41
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