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The manager of a produce market purchased a quantity of tomatoes

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The manager of a produce market purchased a quantity of tomatoes [#permalink]

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New post 01 Jun 2016, 08:57
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Difficulty:

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Question Stats:

64% (02:29) correct 36% (02:46) wrong based on 94 sessions

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The manager of a produce market purchased a quantity of tomatoes for $0.80 per pound. Due to improper handling, 10 percent of the tomatoes, by weight, were ruined and discarded. At what price per pound should the manager sell the remaining tomatoes if she wishes to make a profit on the sale of the tomatoes equal to 8 percent of the cost of the tomatoes.

A. $0.94
B. $0.96
C. $0.98
D. $1.00
E. $1.20
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Re: The manager of a produce market purchased a quantity of tomatoes [#permalink]

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New post 01 Jun 2016, 09:49
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Assume the manager bought 100 tomatoes.

Cost Price = 80

Given: 10% are damaged --> Available tomatoes to sell = 90

90 * x - 80 = 0.08 * 80
90x - 80 = 6.4
90x = 86.64

x = 86.64/90 = 87/90 (approx) = 29/30 = 0.966
x is slightly under 0.9666 = 0.96

Answer: B

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Re: The manager of a produce market purchased a quantity of tomatoes [#permalink]

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New post 01 Jun 2016, 10:33
subhamgarg91 wrote:
The manager of a produce market purchased a quantity of tomatoes for $0.80 per pound. Due to improper handling, 10 percent of the tomatoes, by weight, were ruined and discarded. At what price per pound should the manager sell the remaining tomatoes if she wishes to make a profit on the sale of the tomatoes equal to 8 percent of the cost of the tomatoes.

A. $0.94
B. $0.96
C. $0.98
D. $1.00
E. $1.20


Ignore decimals and calculate -

COST = 80 ( For 10 Units )

Selling Price ( For 9 Units ) = 108% of 80/9
Selling Price ( For 9 Units ) = 9.6

Check the options only (B) matches....
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Re: The manager of a produce market purchased a quantity of tomatoes [#permalink]

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New post 09 Oct 2017, 16:55
subhamgarg91 wrote:
The manager of a produce market purchased a quantity of tomatoes for $0.80 per pound. Due to improper handling, 10 percent of the tomatoes, by weight, were ruined and discarded. At what price per pound should the manager sell the remaining tomatoes if she wishes to make a profit on the sale of the tomatoes equal to 8 percent of the cost of the tomatoes.

A. $0.94
B. $0.96
C. $0.98
D. $1.00
E. $1.20


We can let the number of pounds of tomatoes purchased = n

Thus, the cost was 0.8n.

Since 10% were discarded, 0.9n were leftover.

We also need a profit of 0.08 x 0.8n = 0.064n; thus, if we let p = price per pound of the tomatoes, we have:

0.064n = 0.9np - 0.8n

64n = 900np - 800n

64 = 900p - 800

864 = 900p

0.96 = p

Answer: B
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Re: The manager of a produce market purchased a quantity of tomatoes   [#permalink] 09 Oct 2017, 16:55
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