cfc198 wrote:
If a milkman wishes to earn a profit of 16.66% by selling milk at cost price and mixing water to the milk. What percent of the mixture has to be water?
A 12.5
B 14.28
C 20
D 25
E 35
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I'm assuming that the 6's go on forever (as in 16.66666....%)
16.66666....% = 1/6
So, we're looking for a profit that is 1/6 the wholesale cost.
A NICE value to start with is a $6 wholesale cost.
So, let's say, the milkman buys 6 liters of milk for a total of $6 ($1/liter)
If the milkman adds 1 liter of WATER to the 6 liters of milk, he then has 7 liters of diluted milk.
If he sold all 7 liters of diluted milk at the same price of $1/liter, he'd make $7 for a 16.6666...% profit.
Similarly, if he sells 6 liters of diluted milk at the same price of $1/liter (total price = $6), then his profit is still 16.6666...%
What percent of the mixture has to be water?The 7 liters of diluted milk is comprised of 1 liter of water.
1/7 ≈ 14%
Answer: B
Cheers,
Brent
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