Three pounds of raisins and 4 pounds of corn flakes...

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swerve: Legendary Member; Posts: 2560; Joined: Sun Oct 29, 2017 2:04 pmFollowed by: 6 members

by swerve » Fri Feb 23, 2018 8:05 am

Three pounds of raisins and 4 pounds of corn flakes are used to make a large bag of breakfast cereal. Raisins cost $1.11 per pound and flakes cost $0.90 per pound. What most the grocer charge for a pound of the cereal to make a profit of 21 cents per pound?

A. $0.99
B. $1.00
C. $1.07
D. $1.20
E. $1.21

The OA is D.

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 | Fri Feb 23, 2018 8:05 am

DavidG@VeritasPrep: Legendary Member; Posts: 2663; Joined: Wed Jan 14, 2015 8:25 amFollowed by: 128 members; Location: Boston, MA; Thanked: 1153 times; GMAT Score:770

by DavidG@VeritasPrep » Fri Feb 23, 2018 8:15 am

swerve wrote:Three pounds of raisins and 4 pounds of corn flakes are used to make a large bag of breakfast cereal. Raisins cost $1.11 per pound and flakes cost $0.90 per pound. What most the grocer charge for a pound of the cereal to make a profit of 21 cents per pound?

A. $0.99
B. $1.00
C. $1.07
D. $1.20
E. $1.21

The OA is D.

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.

Cost of three pounds of raisins: 3 * 1.11 = 3.33
Cost of four pounds of cornflakes: 4 * .90 . = 3.60
Total cost of 7 pounds of cereal = 3.33 + 3.60 = 6.93
Cost per pound = 6.93/7 = .$99

To make a profit of $.21, they'd have to charge .99 + .21 = $1.20. The answer is D

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Scott@TargetTestPrep: GMAT Instructor; Posts: 8177; Joined: Sat Apr 25, 2015 10:56 amFollowed by: 29 members; Location: Los Angeles, CA; Thanked: 43 times

by Scott@TargetTestPrep » Mon Jun 17, 2019 4:33 pm

swerve wrote:Three pounds of raisins and 4 pounds of corn flakes are used to make a large bag of breakfast cereal. Raisins cost $1.11 per pound and flakes cost $0.90 per pound. What most the grocer charge for a pound of the cereal to make a profit of 21 cents per pound?

A. $0.99
B. $1.00
C. $1.07
D. $1.20
E. $1.21

The OA is D.

First, we can determine the total cost to the grocer:

Cost for raisins = 3 x 1.11 = $3.33

Cost for corn flakes = 4 x 0.90 = $3.60

Total cost to grocer = $6.93

Cost per pound = 6.93/7 = $0.99

Since the grocer wants to make a profit of $0.21 per pound, he must charge:

0.99 + 0.21 = $1.20

Answer: D

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