Section: Arithmetic Reasoning

10) A shopkeeper buys 12 boxes of apples for $90. If two boxes were lost, what price would the shopkeeper need to sell each remaining box of apples for to make a 20% profit?

1. $7.20
2. $9.00
3. $10.80
4. $12.00

The shop keeper has lost 2 of his original 12 boxes. Therefore, the shopkeeper has 10 boxes left. Each box cost an average of:
$90/10 = $9.

If the shopkeeper wants a 20% profit he would need to sell each box at:
$9 + 20% = $9 + ($9 x 0.2) = $9.00 + $1.80 = $10.80