A shopkeeper buys some rice for Rs. 600. He sells 1/3rd of it at a

Question

A shopkeeper buys some rice for Rs. 600. He sells 1/3rd of it at a loss of 15%. What should be the profit on the remaining rice so that he makes a profit of 5% overall?

A. 15% 
 B. 10% 
 C. 20% 
 D. 25% 
 E. 30%

This is a  PS Butler Question

Check the links to other Butler Projects:

Data Sufficiency Butler  
  Critical Reasoning Butler  
  Sentence Correction Butler  
  Reading Comprehension Butler  
  Integrated Reasoning Butler

dhyeyd · Answer

1/3 of rice= Rice worth Rs.600/3= Rice worth Rs.200.

Loss incurred= 15%. Therefore S.P.= 200*0.85= Rs. 170.

Overall profit required= 5% => Overall S.P. should be 600*1.05= Rs.630.

Remaining rice= Rs.600-Rs.200= Rs.400
Remaining profit required= Rs.630-Rs.170=Rs.460

Thus, profit on remaining rice should be 460/400=1.15==> 15% profit.

Guys, I have my exam scheduled for tomorrow, wish me luck!

Ayeka · Answer

Price of rice= 600 
Rice sold at a loss of 15%= 1/3 of 600= 200 
Remaining rice=400

200*(1-0.15)+ 400*x= 600(1+0.05) 
200*0.85+ 400x= 630
170+ 400x = 630 
400x= 460
x=1.15 
Hence, profit needed is 15%

A

Posted from my mobile device

Ayeka · Answer

Good Luck for the exam!

Posted from my mobile device

Rod728 · Answer

A shopkeeper buys some rice for Rs. 600. He sells 1/3rd of it at a loss of 15%. What should be the profit on the remaining rice so that he makes a profit of 5% overall?

A. 15%
B. 10%
C. 20%
D. 25%
E. 30%

1) The shopkeeper sells 1/3 of the rice = 200 at loss 15% ->> 200*0,85 =  170 
2) The total selling price for a 5% profit should be 600*1,05 =  630 
3) Required selling price for remaining rice = 630-170 =  460

Finally, profit percentage = (Price-cost)/cost = (460-400)/400= 0,15 ->>  15%
Answer A

Krunaal · Answer

Let's assume shopkeeper bought 60kg of rice for $600
Therefore, 1kg costs $10

Sold 1/3 rd of thee rice => 20kg of the rice at 15% loss => at the price of $8.5 / kg => 20 * 8.5 = $170

Overall profit needs to be 5% => revenue needs to be 600 * 1.05 = $630

We already have $170, therefore we need to sell 40kg of remaining rice for $460
Cost of 40kg of rice is $400

60/400 = 0.15 =>  15%

Answer A.

Abdelaali91 · Answer

200*0,85+400*x=600*1,05 solve for x, we get x=115/100 so +15%

A shopkeeper buys some rice for Rs. 600. He sells 1/3rd of it at a

Prep Toolkit

Top 5 GMAT Debrief Videos

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards

GMAT Problem Solving (PS) Questions

A shopkeeper buys some rice for Rs. 600. He sells 1/3rd of it at a

Prep Toolkit

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards