Question : A merchant buys 25 litres of milk daily at the rate of Rs. 12 per litre. He mixes 5 litres of water in it and sells it at the rate of Rs. 10.40 per litre. His profit percentage is:
Option 1: 8% profit
Option 2: 2% profit
Option 3: 4% profit
Option 4: 6% profit
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Correct Answer: 4% profit
Solution :
The cost price (CP) of 25 litres of milk at Rs. 12 per kg = (25 × 12) = Rs. 300
Cost price of 5 litres of water at Rs. 0 = 5 × 0 = 0
Total quantity of mixture = 25 + 5 = 30 litres
Per litre mixture cost = $\frac{300}{30}$ = Rs. 10
The selling price (SP) of the mixture = Rs. 10.40
Profit = SP – CP = 10.40 – 10 = 0.40
Profit percentage = $\frac{\text{Profit}}{\text{CP}}$ × 100 = $\frac{0.40}{10}$ × 100 = 4%
Hence, the correct answer is 4% profit.
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