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boomtangboy
Joined: 06 Jan 2012
Last visit: 05 Jun 2021
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Status:May The Force Be With Me (D-DAY 15 May 2012)
Location: India
Concentration: General Management, Entrepreneurship
Schools: ISB '14 (D) INSEAD Jan '13 (D) Tuck '15 (D) Ross '15 (D) Duke '15 (D) NUS '15 (D) NTU '15 (WL) Ivey '15 (D) Johnson '16 (S)
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Updated on: 27 Sep 2017, 00:10
Originally posted by boomtangboy on 07 Apr 2012, 20:41.
Last edited by Bunuel on 27 Sep 2017, 00:10, edited 4 times in total.
Last edited by Bunuel on 27 Sep 2017, 00:10, edited 4 times in total.
Edited the diagram
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C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
35%
(medium)
Question Stats:
73% (01:46) correct
27%
(02:25)
wrong
based on 3076
sessions
History
Date
Time
Result
Not Attempted Yet
In 1980, approximately what fraction of the cost to the consumer for the production of 6 ounces of frozen orange juice went to the farmer?
(A) 3/11
(B) 1/3
(C) 4/9
(D) 5/9
(E) 3/5
Attachment:
The cost to the consumer.png [ 36.83 KiB | Viewed 42213 times ]
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08 Apr 2012, 01:29
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boomtangboy
Since we are dealing with percents only no need to use $0.7 at all.
In 1980 44.4% of the cost to the consumer went to the farmer. Now, 44.4% is a little less than 1/2, so the answer must be 4/9 (basically the questions asks to transform 44.4% into a fraction).
Answer: C.
05 Feb 2013, 15:17
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boomtangboy
It can help to memorize basic fraction conversions for situations just like this. For instance:
Since 1/9 = 0.111 = 11.1% ==> 4/9 = 0.444 = 44.4% went to the Farmer.
Therefore, C is the correct choice. 4/9
