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Profit/loss
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Q. 10% fruit of a seller was damaged during the transportation, and another 15% was rotten, At what profit at percentage should he sell the rest of the good so that he can make an overall profit of 20%.
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Where are the 5 answer choices that always accompany GMAT problem solving questions?
We can often use those answer choices to answer the question quickly.
Cheers,
Brent
We can often use those answer choices to answer the question quickly.
Cheers,
Brent
Brent Hanneson - Creator of GMATPrepNow.com
Let seller have 100 fruits at first place.
Assume Cost of each fruit is $1 and hence total cost of fruits = $100.
total fruits rotten and damaged = 15+10= 25
total fruits left = 75.
In order to get overall 20% profit S.P. should be $120 and cost of fruits (C.P.) is $100.
Hence price per fruit = $120/75 = $1.6
(why 75 fruits?) as 25 fruits have been damaged or rotten.
Hence required profit percentage = (1.6-1)*100/1= 60%
Hope this helps
Assume Cost of each fruit is $1 and hence total cost of fruits = $100.
total fruits rotten and damaged = 15+10= 25
total fruits left = 75.
In order to get overall 20% profit S.P. should be $120 and cost of fruits (C.P.) is $100.
Hence price per fruit = $120/75 = $1.6
(why 75 fruits?) as 25 fruits have been damaged or rotten.
Hence required profit percentage = (1.6-1)*100/1= 60%
Hope this helps
