What Price Lamb Quiz Puzzle

One of our colleagues was in the butcher's shop near to Quiz Master Shop Towers, pricing up lamb joints for Easter.

He remarked to the butcher that his prices were quite high, and the butcher agreed. "The wholesale prices are high at the moment, as importing lamb is quite difficult, but I'm hoping the prices will drop soon. If the wholesaler would give me five more legs for £100, I could drop my price by £1.50 and still maintain the same profit margin."

He returned the next week, and true to his word the butcher had reduced the price of a leg of lamb by £1.50. However, our colleague still felt this to be a bit pricey and asked if prices would be dropping further. "Well" replied the butcher, "I think that they might be coming down over the next week. Now if I could get another five legs for my £100 I could drop my price by a further £1 and still retain the same margin."

So the puzzle is to find how much is the butcher charging for a leg of lamb, and what is his profit margin?

As usual you can post your suggested answers as a comment on this website, reply to the post on Facebook, or retweet or reply on Twitter @quizmastershop.

Answers at 9.00 on Monday


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