Question : A trader buys 500 kg of cotton for INR 9,000. 10% of his cotton is spoiled due to rain. At what rate (INR/kg) should he sell the rest to earn 10% profit?
Option 1: 25
Option 2: 30
Option 3: 22
Option 4: 20
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Correct Answer: 22
Solution :
The cost price of 500 kg of cotton = INR 9,000
Total profit = 10% of cost price = 10% of 9000 = INR 900
Total selling price = cost price + total profit = 9000 + 900 = INR 9,900
Remaining cotton = 500 – 10% of 500 = 90% of 500 = 450 kg
Selling price per kg = $\frac{9900}{450}$ = INR 22
Hence, the correct answer is 22.
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