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GMAT Official Guide 2019 A retailer purchased eggs

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by BTGmoderatorDC » Sat Jun 30, 2018 11:57 pm

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Answers

A

B

C

D

E

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Difficulty—

A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eggs for $0.90. What was the retailer's gross profit from purchasing and selling 5 dozen eggs? (1 dozen eggs = 12 eggs)


A. $0.90

B. $2.40

C. $4.00

D. $11.30

E. $12.00
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by [email protected] » Sun Jul 01, 2018 10:15 am
Hi All,

We're told that a retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eggs for $0.90. We're asked for the retailer's gross profit from purchasing and selling 5 dozen eggs(1 dozen eggs = 12 eggs). There are a couple of different ways to go about doing the work here (and a certain amount of Arithmetic is required).

Since 3 eggs are sold for $0.90, we know that a dozen eggs will be sold for (4)($0.90) = $3.60.
Thus, each dozen eggs sold will yield a PROFIT of $3.60 - $2.80 = $0.80.
With 5 dozen eggs, the profit will be (5)($0.80) = $4.00

Final Answer: C

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by Scott@TargetTestPrep » Wed Jul 04, 2018 6:31 pm
BTGmoderatorDC wrote:A retailer purchased eggs at $2.80 per dozen and sold the eggs at 3 eggs for $0.90. What was the retailer's gross profit from purchasing and selling 5 dozen eggs? (1 dozen eggs = 12 eggs)


A. $0.90

B. $2.40

C. $4.00

D. $11.30

E. $12.00
We see that the retailer sold each egg for $0.90/3 = $0.30, and hence sold the eggs for $0.30 x 12 = $3.60 per dozen. Thus, the profit per dozen of eggs is 3.60 - 2.80 = $0.80, and so the gross profit for 5 dozen eggs is 0.80 x 5 = $4.00.

Answer: C

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by Shahrukh_mbabreakspace » Wed Jul 04, 2018 10:59 pm
SP of one dozen= 0.9*4= 3.6
Profit per dozen= 3.6-2.8= 0.8
So, for 5 dozen= 0.8*5=4

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