Difference between revisions of "1964 AHSME Problems/Problem 14"
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Let us say each sheep cost <math>x</math> dollars. The farmer paid <math>749x</math> for the sheep. He sold <math>700</math> of them for <math>749x</math>, so each sheep sold for <math>\frac{749}{700} = 1.07x</math>. | Let us say each sheep cost <math>x</math> dollars. The farmer paid <math>749x</math> for the sheep. He sold <math>700</math> of them for <math>749x</math>, so each sheep sold for <math>\frac{749}{700} = 1.07x</math>. | ||
− | Since every sheep sold for the same price per head, and since every sheep cost <math>x</math> and sold for <math>1.07x</math>, there is an increase of <math>\frac{1.07x - 1x}{1x} = 0.07</math>, or <math>7\%</math>, which is option <math>\boxed{\textbf{(C}}</math> | + | Since every sheep sold for the same price per head, and since every sheep cost <math>x</math> and sold for <math>1.07x</math>, there is an increase of <math>\frac{1.07x - 1x}{1x} = 0.07</math>, or <math>7\%</math>, which is option <math>\boxed{\textbf{(C)}}</math> |
==See Also== | ==See Also== |
Latest revision as of 17:33, 23 July 2019
Problem
A farmer bought sheep. He sold of them for the price paid for the sheep. The remaining sheep were sold at the same price per head as the other . Based on the cost, the percent gain on the entire transaction is:
Solution
Let us say each sheep cost dollars. The farmer paid for the sheep. He sold of them for , so each sheep sold for .
Since every sheep sold for the same price per head, and since every sheep cost and sold for , there is an increase of , or , which is option
See Also
1964 AHSC (Problems • Answer Key • Resources) | ||
Preceded by Problem 13 |
Followed by Problem 15 | |
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All AHSME Problems and Solutions |
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