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This problem trains for: SAT-I, AMC-8, GMAT, AMC-10.

Fresh tomatoes cost $.95 per pound to grow from seed to harvest. If they are sold fresh, packaging costs $.35 per pound and 35% of the whole quantity goes to waste during handling. The farmer sells the fresh tomatoes to a wholesaler for $2.15 per pound. If they are sold dried, the drying/packaging process costs $.55 per fresh pound and the mass of tomatoes decreases through dehydration by 75%. What price per pound should the farmer sell the dry tomatoes for, in order to make the same percent profit as on the fresh tomatoes?

ProductCost FreshHandlingWeight lossCost per lbSell per lbNet Profit
Fresh Tomato.95.3535%2.002.150.15
Dry Tomato.95.5575%6.00pp-6.00

To find the final cost per lb, we proceed as follows:
After a weight loss of 35%, only 65% of the mass is left, therefore the cost per lb. can be found from the proportion:

equation

For the dry tomatoes:

equation

The net profit is not the same as the percent profit: a net profit of $.15 cents over a cost of $2.00 must be in the same ratio as a net profit of p-6.00 over a cost of $6.00:

equation

The selling price for the dry tomatoes must be $6.45/lb.