Question : A milk merchant buys 30 litres of milk at the rate of Rs. 50 per litre and mixes 20 litres of water in it (water is free of cost). If he sells this mixture at the rate of Rs. 48 per litre, then what is the profit percentage?
Option 1: 50 percent
Option 2: 60 percent
Option 3: 40 percent
Option 4: 66.66 percent
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Correct Answer: 60 percent
Solution :
Quantity of milk purchased = 30 litres
Cost of milk per litre = Rs. 50
⇒ The cost price of 30 litres of milk = Rs. 50 × 30 = Rs. 1500
Quantity of water added = 20 litres
Selling price of the mixture = Rs. 48 per litre
He mixes 20 litres of water in it.
⇒ Total quantity of mixture = 30 + 20 = 50 litres.
⇒ The selling price of 50 litres of mixture = Rs. 48 × 50 = Rs. 2400
⇒ Profit = Rs. (2400 – 1500) = Rs. 900
$\therefore$ Profit percentage = $\frac{900}{1500}$ × 100 = 60%
Hence, the correct answer is 60 percent.
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