Question : A rice trader buys 8 quintals of rice for Rs 3600. 10% of rice is lost in transportation. At what rate should he sell to earn a 15% profit?
Option 1: Rs. 352.1 per quintal
Option 2: Rs. 517.5 per quintal
Option 3: Rs. 575 per quintal
Option 4: Rs. 582.3 per quintal
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Correct Answer: Rs. 575 per quintal
Solution :
Given the cost price = Rs. 3600 for 8 quintals
10% of rice is lost in transportation.
Quantity of rice with the trader after transportation lost = $\frac{100 − 10}{ 100}\times 8 = 7.2 $ quintals
To have 15% profit, the total selling price of the trader should be = $\frac{115}{100}\times 3600$
= Rs. 4140
Selling price per quintal = $\frac{4140}{7.2}=Rs. 575$
Hence, the correct answer is Rs. 575 per quintal.
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