A salesman sells two equally priced brands of icecream, for which he receives a sales commission of 5 percent on one brand and 7 percent on the other. If the salesman sold a total of $10,000 in icecream and collected $660 in commissions, what fractional part of the total icecream sold did he sell at the lower commission rate?
A) 7/8
B) 4/5
C) 1/2
D) 1/5
E) 1/8
Answer : D
please give a quick method to solve this one...thanks!
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A,B -> price=p
x,y (number sold)
x+y = 10000
5% of px + 7% of py = 660
p(5x+7y) = 66000
p(5(x+y) + 2y) = 66000
50000p + 2py = 66000
p=2 is not possible.
if p=1, 2y=16000 or y=8000 then x=2000
thus 2000/10000 = 1/5
IMO D
x,y (number sold)
x+y = 10000
5% of px + 7% of py = 660
p(5x+7y) = 66000
p(5(x+y) + 2y) = 66000
50000p + 2py = 66000
p=2 is not possible.
if p=1, 2y=16000 or y=8000 then x=2000
thus 2000/10000 = 1/5
IMO D
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This is a weighted average question.Cheese12 wrote:A salesman sells two equally priced brands of icecream, for which he receives a sales commission of 5 percent on one brand and 7 percent on the other. If the salesman sold a total of $10,000 in icecream and collected $660 in commissions, what fractional part of the total icecream sold did he sell at the lower commission rate?
A) 7/8
B) 4/5
C) 1/2
D) 1/5
E) 1/8
Answer : D
please give a quick method to solve this one...thanks!
660/10,000 = 6.6%.
A 5% commission is being combined with a 7% commission to yield a mixture with a 6.6% commission.
We can use alligation:
The proportion of each element in the mixture is equal to the distance between the OTHER two percentages.
Proportion of 5% commission = distance between 7% and 6.6% = |7-6.6| = .4
Proportion of 7% commission = distance between 5% and 6.6% = |5-6.6| = 1.6.
Ratio of 5% to 7% in the mixture = (.4) : (1.6) = 4:16= 1:4.
The sum of the parts of the ratio = 1+4 = 5
Thus, for every $5 earned, $1 comes from the lower rate, $4 comes from the higher rate.
Fraction from the lower rate = 1/5.
The correct answer is D.
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Followed here and elsewhere by over 1900 test-takers.
I have worked with students based in the US, Australia, Taiwan, China, Tajikistan, Kuwait, Saudi Arabia -- a long list of countries.
My students have been admitted to HBS, CBS, Tuck, Yale, Stern, Fuqua -- a long list of top programs.
As a tutor, I don't simply teach you how I would approach problems.
I unlock the best way for YOU to solve problems.
For more information, please email me (Mitch Hunt) at [email protected].
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