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# A vendor bought a number of bananas at 3 for a dollar and sold them

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Director
Joined: 31 Oct 2013
Posts: 837
Concentration: Accounting, Finance
GPA: 3.68
WE: Analyst (Accounting)
A vendor bought a number of bananas at 3 for a dollar and sold them  [#permalink]

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09 Jul 2018, 15:27
00:00

Difficulty:

5% (low)

Question Stats:

90% (01:08) correct 10% (01:21) wrong based on 49 sessions

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A vendor bought a number of bananas at 3 for a dollar and sold them at 2 for a dollar. What is his gain percent ?

A) 10%
B) 6%
C) 3%
D) 50%
E) 25%
Senior SC Moderator
Joined: 22 May 2016
Posts: 2197
A vendor bought a number of bananas at 3 for a dollar and sold them  [#permalink]

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09 Jul 2018, 16:58
selim wrote:
A vendor bought a number of bananas at 3 for a dollar and sold them at 2 for a dollar. What is his gain percent ?

A) 10%
B) 6%
C) 3%
D) 50%
E) 25%

Cost: 3 bananas for $1.00 Cost:$$\frac{1.00}{3}=.33=33$$ cents each Sell Price: 2 bananas for$1.00
SP: $$\frac{1.00}{2}=.50=50$$ cents each

Percent gain (profit)?
$$\frac{SP-C}{C}*100=$$
$$(\frac{50-33}{33}*100)=(\frac{17}{33}*100)\approx 50$$ percent

Director
Status: Learning stage
Joined: 01 Oct 2017
Posts: 931
WE: Supply Chain Management (Energy and Utilities)
A vendor bought a number of bananas at 3 for a dollar and sold them  [#permalink]

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09 Jul 2018, 20:31
selim wrote:
A vendor bought a number of bananas at 3 for a dollar and sold them at 2 for a dollar. What is his gain percent ?

A) 10%
B) 6%
C) 3%
D) 50%
E) 25%

Cost price of 3 bananas=$1 So, cost price of 1 banana in dollar=$$\frac{1}{3}$$ Sells price of 2 bananas=$1
So, Sells price of 1 banana in dollar=$$\frac{1}{2}$$

Gain=Sells price-Cost price=$$\frac{1}{2}$$-$$\frac{1}{3}$$=$$\frac{1}{6}$$
%Gain=$$\frac{\frac{1}{6}}{\frac{1}{3}}$$*100=50%

Ans. (D)
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PKN

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Director
Joined: 20 Feb 2015
Posts: 796
Concentration: Strategy, General Management
Re: A vendor bought a number of bananas at 3 for a dollar and sold them  [#permalink]

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10 Jul 2018, 02:09
selim wrote:
A vendor bought a number of bananas at 3 for a dollar and sold them at 2 for a dollar. What is his gain percent ?

A) 10%
B) 6%
C) 3%
D) 50%
E) 25%

let the no of bananas the vendor brought be x
price = 3 bananas for a dollar
price of x bananas = x/3 dollars
cp=x/3 dollars

sp =selling price = x/2 dollars

profit % = (sp-cp)*100/cp= (x/2-x/3)*100/(x/3)
=(100x/6)/(x/3)=50%
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Posts: 2830
Re: A vendor bought a number of bananas at 3 for a dollar and sold them  [#permalink]

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14 Jul 2018, 18:36
selim wrote:
A vendor bought a number of bananas at 3 for a dollar and sold them at 2 for a dollar. What is his gain percent ?

A) 10%
B) 6%
C) 3%
D) 50%
E) 25%

The cost of each banana is 100/3 cents and the revenue of each bananas is 100/2 = 50 cents. Thus the profit is

(50 - 100/3)/(100/3) x 100

(150 - 100)/(100) x 100

50/100 x 100

50 percent of the cost.

Alternate Solution:

Let’s suppose the vendor bought 6 bananas. Since he buys them 3 for a dollar, he paid 6/3 = 2 dollars. Since he sells them 2 for a dollar, he earns 6/2 = 3 dollars. Thus, his profit percentage is [(3 - 2)/2] x 100 = 50 percent.

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Jeffery Miller

GMAT Quant Self-Study Course
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Re: A vendor bought a number of bananas at 3 for a dollar and sold them &nbs [#permalink] 14 Jul 2018, 18:36
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