A man bought 80 kg of rice for Rs. 88 and sold it at a loss of as much

Question

A man bought 80 kg of rice for Rs. 88 and sold it at a loss of as much money as he received for 20 kg. At what price did he sell it ?

A. 60 paise
B. 70 paise
C. 75 paise
D. 80 paise
E. 88 paise

atibha27 · Answer

can i get an explanation for the above question

gmatophobia · Answer

An official question will provide a bit more information around the conversion.

1 Rs = 100 paise

Also, the question should be reframed as:  'What is the cost per kilogram of the rice sold?'  In its current form, the question suggests asking for the selling price of 80 kilograms of rice, whereas the given answer actually represents the cost per kilogram.

Let's assume that the man received Rs  x  for 20 kgs of rice. Therefore for 80 kgs of rice, the man would have received Rs  4x

sold it at a loss of as much money as he received for 20 kg

Loss = Rs  x

Selling Price = Cost Price - Loss Amount

4x = 88 - x

5x = 88

x = \frac{88}{5}

Price (in Rs) received for 80 kgs of rice =  4x = \frac{88*4}{5}

Price received for 1 kg of rice = Rs  \frac{88*4}{5* 80}

Converting into paise (as the answers are in paise)

=  \frac{88*4 * 100}{5* 80}  = 88 paise

Option E

MS26 · Answer

C.P. of 80 kg - S.P. of 80 kg = S.P. of 20 kg (GIVEN)
C.P. of 80 kg = S.P. of 80 kg + S.P. of 20 kg
C.P. of 80 kg = S.P. of 100 kg
=> 88 = S.P. of 100 kg
=> SP of 1 kg = Rs 0.88 or 88 paise

Answer E

ManishaPrepMinds · Answer

Given:
 
 Purchased 80kg for Rs.88 ⇒ Cost price (CP) per kg = 88/80 = Rs.1.1 
 He sells at a loss equal to the money received for 20kg
  
Let selling price (SP) per kg = x rupees
 
 Total revenue from selling 80kg = 80x 
 Money received for 20kg = 20x 
 Total loss = Total cost − Total revenue = 88 − 80x 
 We are given loss equals the money received for 20kg
-> 88 − 80x = 20x
 -> 88 = 100x
-> x = 0.88 rupees = 88 paise

Hope it's clear.

A man bought 80 kg of rice for Rs. 88 and sold it at a loss of as much

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 man bought 80 kg of rice for Rs. 88 and sold it at a loss of as much

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