Question: In a market, the price of medium quality mangoes is half that of good mangoes. A shopkeeper buys 80 kg good mangoes and 40 kg medium quality mangoes from the market and then sells all these at a common price which is 10% less than the price at which he bought the good ones. His overall profit is:

1. 6%
2. 8%
3. 10%
4. 12%
5. 16%

Correct Answer: B
Solution and Explanation:
Approach Solution 1:
Let the cost of the good mangoes be $10 per kg; then the cost of medium quality mangoes will be $5 per kg.

Total CP of shopkeeper = 80 * 10 + 40 * 5 = 800 + 200 = $1000.

SP/kg of mangoes = $9 (10% less than the price of good mangoes).
Total SP of shopkeeper = 120 * 9 = $1080.

Net profit = Total SP – Total CP = 1080 – 1000 = $ 80.
Net profit percentage = Profit/TotalCP * 100 = 80/1000 * 100 = 8%.

Approach Solution 2:
Let the good qualities of mango be $ 100/ kg
Medium quality mangoes price= $ 10/ kg
Profit percentage= [ {(80+40)*90-(40-50)-(80*100)}]/ [{(40*50)+(80*100)}] * 100
= [(10800/1000)-1]*100= 80

Approach Solution 3:
Let’s assume good price mango is X $ per kilo and medium quality mangoes are x/2
=> Total expenditure on mangoes= 80x+40*(x/2)= 100x
=> Selling price of both type of mangoes= x*(100-10)/100= 9x/10
=> Total selling price of both type of mangoes= (80+40)*(9x/10)= 108x
=>Total profit on selling= (108x-100x)/(100x)*(100)= 8%

“In a market, the price of medium quality mangoes is half that of good”- is a topic of the GMAT Quantitative reasoning section of GMAT. To solve GMAT Problem Solving questions a student must have knowledge about a good amount of qualitative skills. GMAT Quant practice papers improve the mathematical knowledge of the candidates as it represents multiple sorts of quantitative problems.

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