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Katrina has a wheat business. She purchases wheat from a

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Katrina has a wheat business. She purchases wheat from a  [#permalink]

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New post Updated on: 08 Jul 2012, 07:22
3
9
00:00
A
B
C
D
E

Difficulty:

  95% (hard)

Question Stats:

42% (02:16) correct 58% (02:28) wrong based on 139 sessions

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Katrina has a wheat business. She purchases wheat from a local wholesaler at a particular cost per pound. The price of the wheat at her stores is $3 per pound. Her faulty spring balance reads 0.9 pounds for a pound. Also, in the festival season, she gives a 10% discount on the wheat. She found that she made neither a profit nor a loss in the festival season. At what price did Katrina purchase the wheat from the wholesaler?

(A) 2.43
(B) 2.5
(C) 2.7
(D) 3
(E) 3.3

Originally posted by farukqmul on 08 Jul 2012, 07:14.
Last edited by Bunuel on 08 Jul 2012, 07:22, edited 1 time in total.
Edited the question.
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Re: Katrina has a wheat business. She purchases wheat from a  [#permalink]

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New post 08 Jul 2012, 07:32
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farukqmul wrote:
Katrina has a wheat business. She purchases wheat from a local wholesaler at a particular cost per pound. The price of the wheat at her stores is $3 per pound. Her faulty spring balance reads 0.9 pounds for a pound. Also, in the festival season, she gives a 10% discount on the wheat. She found that she made neither a profit nor a loss in the festival season. At what price did Katrina purchase the wheat from the wholesaler?

(A) 2.43
(B) 2.5
(C) 2.7
(D) 3
(E) 3.3


"Faulty spring balance reads 0.9 pounds for a pound" means that she sells 1 pound for the price of 0.9 pounds, so she looses 10% of the price because of the faulty spring balance;

She looses another 10% because of the discount.

So, she actually sells 1 pound for $3*0.9*0.9=$2.43 and since at that price she made neither a profit nor a loss, then Katrina purchase the wheat from the wholesaler for $2.43.

Answer: A.
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Re: Katrina has a wheat business. She purchases wheat from a  [#permalink]

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New post 08 Jul 2012, 23:42
farukqmul wrote:
Katrina has a wheat business. She purchases wheat from a local wholesaler at a particular cost per pound. The price of the wheat at her stores is $3 per pound. Her faulty spring balance reads 0.9 pounds for a pound. Also, in the festival season, she gives a 10% discount on the wheat. She found that she made neither a profit nor a loss in the festival season. At what price did Katrina purchase the wheat from the wholesaler?

(A) 2.43
(B) 2.5
(C) 2.7
(D) 3
(E) 3.3



She made neither profit nor loss. So we have to find the actual selling price and we will get the cost price.

Selling price = 3
Then there are 2 discounts: 10% and the discount due to the faulty balance.

What is the discount due to the faulty balance? She gives away 1 pound though she charges only for .9 pounds because the balance shows only .9. Hence, this is another 10% discount.

So cost price = 3 * (9/10) * (9/10) = 2.43
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Re: Katrina has a wheat business. She purchases wheat from a  [#permalink]

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New post 22 Mar 2017, 18:41
Lets consider She bought 10 pounds first.

Because of her faulty spring, she sold 10 pounds as 9 pounds.

Selling price: 9*3 = 27.
Deducting 10% discount = 24.3

So for one pound the value is - 2.43/-
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Re: Katrina has a wheat business. She purchases wheat from a  [#permalink]

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New post 11 Apr 2017, 21:47
Let she bought y pounds at $x/pound
Net Cost Price => $xy

Now, on the faulty scale=>1 pound=> 0.9 pounds
Hence y pounds => 0.9y pounds
Total Selling price => 3*0.9y=> 2.7y
Discount => 10 percent
Hence => Net selling price => 2.7y(1-10/100)=> 2.7y*0.9

Now Katrina makes no profit or loss

Hence => SP=CP
2.7y*0.9=xy
=> x=2.7*0.9 => 2.43

Hence x=$2.43

SMASH that A.

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Re: Katrina has a wheat business. She purchases wheat from a  [#permalink]

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New post 11 Apr 2017, 22:05
p pounds at x per pound

Since no profit or loss, CP=SP

x*p = (3 * 0.9p) * 0.9

x=2.43
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Re: Katrina has a wheat business. She purchases wheat from a  [#permalink]

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Re: Katrina has a wheat business. She purchases wheat from a   [#permalink] 21 Oct 2018, 03:07
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