Question : A trader buys 20 kg of rice at Rs. 30 per kg and another 20 kg of a different variety of rice also at Rs. 30 per kg. He then mixes them and sells the mixture at Rs. 33 per kg. What is his percentage of profit?
Option 1: 10%
Option 2: 18%
Option 3: 20%
Option 4: 12%
Correct Answer: 10%
Solution :
Total cost = (Quantity of first variety × Cost per kg) + (Quantity of second variety × Cost per kg)
⇒ Total cost = (20 kg × Rs.30) + (20 kg × Rs.30) = Rs. 600 + Rs. 600 = Rs.1200
⇒ Total selling price = (Total quantity × Selling price per kg) = (40 kg × Rs.33) = Rs.1320
⇒ Profit = Total selling price − Total cost = Rs.1320 − Rs.1200 = Rs.120
Using the formula,
Percentage of profit = $\frac{\text{Profit}}{\text{Total cost}}×100$
⇒ Percentage of profit = $\frac{120}{1200}$ × 100 = 10%
Hence, the correct answer is 10%.
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