A dishonest person wants to make a profit on the selling of milk. He would like to mix water (costing nothing) with milk costing 33 $ per litre so as to make a profit of 70% on cost when he sells the resulting milk and water mixture for 36$. In what ratio should he mix the water and milk?  Select the correct option:
A) 1 : 120  B) 67 : 120  C) 67 : 8  D) 8 : 120  E) 1 : 2

Rationale: "first of all , let ' s consider 1 liter of the stuff he is going to sell - - - naive customers think it ' s pure milk , but we know it ' s some milk - water mixture . he is going to sell this liter of milk - water for $ 36 . this $ 36 should be a 20 % increase over cost . here , we need to think about percentage increases as multipliers . using multipliers ( cost ) * 1.70 = $ 36 cost = 36 / 1.7 = 360 / 12 = $ 30 if he wants a 70 % increase over cost on the sale of one liter of his milk - water , the cost has to be $ 21.17 well , a liter of milk costs $ 33 , so if he is going to use just $ 30 of milk in his mixture , that ' s 21.17 / 33 = 120 / 187 of a liter . if milk is 120 / 87 of the liter , then water is 67 / 187 of the liter , and the ratio of water to milk is 67 : 120 . answer choice ( b )"
Answer: B