How to find percentage - GRE Quantitative Reasoning

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Question

A baker is able to sell doughnut holes made from his doughnuts in groups of 6 for $0.50. If he wastes one hole per dozen doughnuts, how much money does he fail to make when selling the holes that can be packaged from 22 dozen doughnuts?

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Answer

Given his waste rate, the baker would waste 22 holes. That is the equivalent 3 2/3 bags; however, since that would leave him with a 1/3 of a bag, the waste really is 4 bags of holes. He therefore fails to make 4 * 0.5 or $2 on this batch of 22 dozen doughnuts and holes.

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