A dozen eggs and 10 pounds of apples...

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swerve: Legendary Member; Posts: 2499; Joined: Sun Oct 29, 2017 2:04 pm; Followed by:6 members

A dozen eggs and 10 pounds of apples...

by swerve » Wed Jan 17, 2018 11:39 am

A dozen eggs and 10 pounds of apples are currently at the same price. If the price of a dozen eggs rises by 10 percent and the price of apples rises by 2%. How much more will it cost to buy a dozen eggs and 10 pounds of apples?

A. 2%
B. 6%
C. 10%
D. 12%
E. 12.2%

The OA is B.

Please, can any expert explain this PS question for me? I tried to solve it but I can't get the correct answer. I need your help. Thanks.

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Source: Beat The GMAT — Problem Solving | Wed Jan 17, 2018 11:39 am

GMATGuruNY: GMAT Instructor; Posts: 15539; Joined: Tue May 25, 2010 12:04 pm; Location: New York, NY; Thanked: 13060 times; Followed by:1906 members; GMAT Score:790

by GMATGuruNY » Wed Jan 17, 2018 12:03 pm

swerve wrote:A dozen eggs and 10 pounds of apples are currently at the same price. If the price of a dozen eggs rises by 10 percent and the price of apples rises by 2%. How much more will it cost to buy a dozen eggs and 10 pounds of apples?

A. 2%
B. 6%
C. 10%
D. 12%
E. 12.2%

Let eggs = $50 and apples = $50, for a current total price of $100.
Since the price of eggs increases by 10%, the increase in the price of eggs = (10/100)(50) = $5.
Since the price of apples increases by 2%, the increase in the price of apples = (2/100)(50) = $1.
(total price increase)/(current total price) = (5+1)/100 = 6/100 = 6%.

The correct answer is B.

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Scott@TargetTestPrep: GMAT Instructor; Posts: 8086; Joined: Sat Apr 25, 2015 10:56 am; Location: Los Angeles, CA; Thanked: 43 times; Followed by:29 members

by Scott@TargetTestPrep » Mon Aug 05, 2019 6:11 pm

swerve wrote:A dozen eggs and 10 pounds of apples are currently at the same price. If the price of a dozen eggs rises by 10 percent and the price of apples rises by 2%. How much more will it cost to buy a dozen eggs and 10 pounds of apples?

A. 2%
B. 6%
C. 10%
D. 12%
E. 12.2%

The OA is B.

We can assume that both a dozen eggs and 10 pounds of apples currently cost $10 each. Thus, the new price of a dozen eggs, after a 10 percent increase in price, is $11 and the new price of 10 pounds of apples, after a 2% increase in price, is $10.20.

The total cost of a dozen eggs and 10 pounds of apples is currently $10 + $10 = $20. After the respective increases in price, the total cost would be $11 + $10.20 = $21.20. Therefore, we see that the new cost is (21.20 - 20)/20 x 100 = 1.2/20 x 100 = 1.2 x 5 = 6 percent more than the current cost.

Answer: B

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