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Three pounds of raisins and 4 pounds of corn flakes are used to make a large bag of breakfast cereal. Raisins cost $1.11 per pound and flakes cost $.90 per pound. What must the grocer charge for a pound of the cereal to make a profit of 21 cents per pound?
A. $0.99
B. $1.00
C. $1.07
D. $1.20
E. $1.21
A. $0.99
B. $1.00
C. $1.07
D. $1.20
E. $1.21
kuksbug
Joined: 25 Jan 2014
Last visit: 19 Nov 2019
Posts: 26
Given Kudos: 58
Location: India
Concentration: Marketing, Operations
Schools: INSEAD Jan'18 Alberta"19
GMAT 1: 590 Q45 V26
GPA: 3.5
WE:Design (Manufacturing)
19 Jan 2017, 08:35
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3 pounds of raisins + 4 pounds of corn flakes- 7 pounds of cereal.
7 pounds of cereal cost -( 1.11*3)+(0.90*4)=$6.93
1 pound of cereal costs=$ 0.99
Profit= Selling price - Cost price
0.21= S.P-0.99
S.P = $1.20
Answer is D
7 pounds of cereal cost -( 1.11*3)+(0.90*4)=$6.93
1 pound of cereal costs=$ 0.99
Profit= Selling price - Cost price
0.21= S.P-0.99
S.P = $1.20
Answer is D
General Discussion
19 Jan 2017, 09:25
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Bunuel
Three pounds of raisins and 4 pounds of corn flakes are used to make a large bag of breakfast cereal. Raisins cost $1.11 per pound and flakes cost $.90 per pound. What must the grocer charge for a pound of the cereal to make a profit of 21 cents per pound?
A. $0.99
B. $1.00
C. $1.07
D. $1.20
E. $1.21
A. $0.99
B. $1.00
C. $1.07
D. $1.20
E. $1.21
3 pounds of raisins cost = $ 3.33
4 pounds of corn flakes cost = $ 3.60
So, 7 Pounds of breakfast cereal costs $ 6.93
The trader wants to make $ 0.21 per pound, so total profit for 7 pounds is $ 1.47
Total Selling Price of 7 Pounds of Breakfast Cereals will be $ 8.40
So, The grocer must charge $ 1.20
Answer will be (D) $ 1.20
