Kentnickole:


Ok here is d working:

Let x be the cost price; cost price of 6kg = 6X
With 20% of profit margin, SP = 6X x 1.2
This is the price charged for 5kg
SP of 1kg = (6X x 1.2)/5 = 1.44X ie 144% increase, hence 144%-100% = 44%

My rough working though.



No 2:

Given 8a = 9b and ab = 0;
The ratio of these numbers is [a/9]/[b/8]; substituting in the ratio frm the question, u hv a = 9b/8; the ratio then is [9b/72]/[b/8]; dividing both sides by b and multiplyn both sides by 8, you finally hv 72/72 = 1


Hence:
1.) C
2.) C

Regards

eckersley:
I want to disagree with the OP concerning the purportedly right answer. In Kentnickole's answer when he was trying to find the unit cost, i.e 1kg, he divided by 5kg saying that's the price charged for 5kg. The question never mentioned 5kg, but 6kg. And we should take into cognizance the difference btw markup and profit margin. I STRONGLY stand by my answer being RIGHT except anyone or the OP can prove otherwise

eckersley:
I want to disagree with the OP concerning the purportedly right answer. In Kentnickole's answer when he was trying to find the unit cost, i.e 1kg, he divided by 5kg saying that's the price charged for 5kg. The question never mentioned 5kg, but 6kg. And we should take into cognizance the difference btw markup and profit margin. I STRONGLY stand by my answer being RIGHT except anyone or the OP can prove otherwise

Valentinooo:


He divided by $5 not 5kg

@belovedsamex, the 1.2 is gotten from the 20% profit.

Add 20%profit to the initial value then you get 120% of that value. Which is 120/100 = 1.2

Valentinooo:


He divided by $5 not 5kg

@belovedsamex, the 1.2 is gotten from the 20% profit.

Add 20%profit to the initial value then you get 120% of that value. Which is 120/100 = 1.2

This is the price charged for 5kg
SP of 1kg = (6X x 1.2)/5 = 1.44X ie 144% increase, hence 144%-100% = 44%

My rough working though.

Kentnickole:


Ok here is d working:

Let x be the cost price; cost price of 6kg = 6X
With 20% of profit margin, SP = 6X x 1.2
This is the price charged for 5kg
SP of 1kg = (6X x 1.2)/5 = 1.44X ie 144% increase, hence 144%-100% = 44%

My rough working though.



No 2:

Given 8a = 9b and ab = 0;
The ratio of these numbers is [a/9]/[b/8] ; substituting in the ratio frm the question, u hv a = 9b/8; the ratio then is [9b/72]/[b/8]; dividing both sides by b and multiplyn both sides by 8, you finally hv 72/72 = 1


Hence:
1.) C
2.) C

Regards

Valentinooo:
pls how did you come about the bold?

belovedsamex:
okk i think i have discovered where the ERROR lies.
@Kentiknoki, d place u divided by 5 should not be by 5 but by 6. and when you do that you arrive at 20% markup margin as posted by my protesting friend @ eckersley .
pls check through ur solution again @kent....d place u said "this is d price charged for 5kg" it is not supposed to be 5kg but 6kg. got it? ok!

eckersley:




I DISAGREE. GO BACK AND READ HIS POST. Kindly look at my post and see my working. IF 5KG OF Rice is for N20, the SP for a unit[1kg] will be N20 divided by the 5kg. Abi Maths headquaters for the moon don change aaam. why divide by the $5 AND NOT THE NUMBER OF ITEMS?

Kentnickole:


It was given. Check the OP's question...

belovedsamex:
okk i think i have discovered where the ERROR lies.
@Kentiknoki, d place u divided by 5 should not be by 5 but by 6. and when you do that you arrive at 20% markup margin as posted by my protesting friend @ eckersley .
pls check through ur solution again @kent....d place u said "this is d price charged for 5kg" it is not supposed to be 5kg but 6kg. got it? ok!

naturalwaves:
I can't believe that a reputable organisation like Chevron will set such a question like no 1 that is so unclear and ambiguous. Based on the question, we do not need the 5 dollars info to solve it except if I don't understand the question. This was what I got anyway;

1. A shopkeeper is giving 6kg of rice at the price of $5 per kg. What should be the markup on the cost price if he wants to make a profit of 20%?
OPTIONS: A. 25% B. 50% C. 44% D. 20%

belovedsamex:
WELL, having gone thru the comments i was struck by d fascinating answer given by @KENTKNOKI.
He didnt only gv d CORRECT ANSWERS as C C but also showed a thorough working which i quite ascertain is correct.

As the OP of this thread i hearby certify him to have the right answer to the question. Let's learn from his solutions.

Valentinooo:


No o. The question said find the ratio of a/9 to b/9. But you decided to use a/9 to b/8

eckersley:




I want believe the text 'giving' is a typo and ought to be spelt as given. That is to say, he was supplied[given] the goods at that price, hence that is the COST price. The next sentence buttresses this point by saying, If he wants to make a profit of 20% NOTE: He hasn't sold the goods yet. Can someone pls explain to me the rationale behind taking the stated sum as the SELLING [and not the COST] price?
I believe if that was the SELLING PRICE, the question would have looked thus: What was mark up on the cost price, if he MADE a profit of 20%? Which is to say he has done the sales already, hence there is a SELLING PRICE. Folks do u see it any other way?

Kylekent59:
For no 1

Margin =20%
5$=1kg
6kg= $30
Margin = (selling price - cost price)/selling price
0.2=(s.p-30)/s.p
0.2 s.p - s.p = -30
-0.8 s.p=-30
S.p=$37.5. While cost price =$30
Markup= (s.p/c.p)-1
=(37.5/30) -1
=0.25. Or 25%
Representin. FUTO maths dept 400 level

naturalwaves:

You see what I mean? The question is senseles.
Let me assume your explanation is right and let me solve it that way then;

From the assumed explanation, cost price = 30 dollars. To make a profit of 20%, he will need to sell it at (20/100*30)+ 30 = 36 dollars.
Then this 36 dolls is the selling price as well as the marked price for a 20% profit.

Difference between the MP(SP) and the CP is 36-30 = 6 dolls.

So now, what % of 30 dolls is 6 dolls?

Let the % = X
X/100 * 30 = 6
30x= 600
X=600/30 which still gives us 20%.

Kylekent59:
For no 1

Margin =20%
5$=1kg
6kg= $30
Margin = (selling price - cost price)/selling price
0.2=(s.p-30)/s.p
0.2 s.p - s.p = -30
-0.8 s.p=-30
S.p=$37.5. While cost price =$30
Markup= (s.p/c.p)-1
=(37.5/30) -1
=0.25. Or 25%
Representin. FUTO maths dept 400 level

NA WAO. DEY THERE dey represent Maths dept. for FUTO. I be medical student. I represent the full Nigeria, esp the incessantly striking doctors

belovedsamex:
Solve these questions from CHEVRON PLC past aptitude test questions: pls gv details of ur solution to the most acceptable answer.

1. A shopkeeper is giving 6kg of rice at the price of $5 per kg. What should be the markup on the cost price if he wants to make a profit of 20%?

OPTIONS: A. 25% B. 50% C. 44% D. 20%

2. If 8a = 9b, and ab = 0. what is the ratio of a/9 to b/9?

OPTIONS: A. 64/81 B. 8/9 C. 1 D. 9/8 E. 81/64

MarthaK:

Andyblaze:
see ya head