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Profit/loss

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Profit/loss

by Joy Shaha » Fri May 06, 2016 1:36 pm
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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by Brent@GMATPrepNow » Fri May 06, 2016 3:14 pm
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.

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by u2k2 » Sat May 28, 2016 11:19 pm
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 :)
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