Question : A shopkeeper bought 20 kg of rice at Rs. 55 per kg, 25 kg at Rs. 50 per kg and 35 kg of rice at Rs. 60 per kg. He spent a sum of Rs. 150 on transportation. He mixed all three types of rice and sold all the stock at Rs. 62.56 kg. His profit percent in the entire transaction is:
Option 1: 8.8
Option 2: 12.5
Option 3: 10.5
Option 4: 9.2
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Correct Answer: 8.8
Solution :
Given,
Rate of Rice of quality 1 = Rs. 55
Quantity = 20 kg
Rate of Rice of Quality 2 = Rs. 50
Quantity = 25 kg
Rate of Rice of quality 3 = Rs. 60
Quantity = 35 kg
Money spent on transportation = Rs. 150
Selling price of mixed Rice = Rs. 62.56
We know,
Profit = Selling price - Cost price
Profit% = $\frac{\text{profit}}{\text{cost price}} × 100$
The cost price of Rice of quality 1 = 55 × 20 =Rs. 1100
The cost price of Rice of quality 2 = 50 × 25 = Rs. 1250
The cost price of Rice of quality 3 = 60 × 35 = Rs. 2100
Total quantity of mixed rice = 20 + 25 + 35 = 80 Kg
Final cost price including transportation = 1100 + 1250 + 2100 + 150 = Rs 4600
⇒ Cost price of 1 kg of mixed rice = $\frac{4600}{80}$ = Rs. 57.5
The selling price of 1 kg of mixed rice = Rs. 62.56
Profit = 62.56 - 57.5 = Rs. 5.06
⇒ Profit% = $\frac{5.06}{57.5} × 100$ = 8.8%
Hence, the correct answer is 8.8.
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