Quote:
Fred goes to a seafood market to purchase lobsters. All the lobsters he buys cost either $4 or $5. If he buys a total of 25 lobsters, and spends $112, what fraction of the lobsters that he purchased cost $5?
The cost and inventory problem is a common GRE question and most easily solved with a system of equations.
In this case, we can define the number of $4 lobsters as x and the number of $5 lobsters as y to create two equations based on the information provided.
We know first that x + y = 25. Then, we also know that 4x + 5y = 112. Now, multiply the first equation by 4 and stack the equations to eliminate x to solve for y, since the questions seeks the number of $5 lobsters.
4x + 5y = 112
-4x + 4y = 100y = 12
Then, since y is the number of $5 lobsters, just put that value over the total number of lobsters to discover that 12/25 lobsters cost $5. Select choice A.