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subhamgarg91
GMAT 2: 750 Q51 V40
Posts: 24
01 Jun 2016, 09:57
Kudos
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B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
55%
(hard)
Question Stats:
71% (02:37) correct
29%
(02:55)
wrong
based on 340
sessions
History
Date
Time
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Not Attempted Yet
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
A. $0.94
B. $0.96
C. $0.98
D. $1.00
E. $1.20
01 Jun 2016, 10:49
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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
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
General Discussion
01 Jun 2016, 11:33
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subhamgarg91
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....
