Question : Rice worth INR 504 per kg and INR 540 per kg are mixed with the third variety in the ratio 1 : 1 : 2. If the mixture is worth INR 612 per kg, find the price (per kg in INR) of the third variety.
Option 1: 630
Option 2: 702
Option 3: 764
Option 4: 522
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Correct Answer: 702
Solution :
Cost of first variety = INR 504
The cost of the second variety = INR 540
The ratio in which rice varieties are mixed = 1 : 1 : 2
Let INR $x$ be the cost of the third variety.
Cost of mixed variety = INR 612
According to the question,
$\frac{504×1 + 540×1 + x×2}{1 + 1+ 2} = 612$
$⇒\frac{1044 + 2x}{4}= 612$
$⇒x=\frac{612×4 - 1044}{2}= 702$
Hence, the correct answer is 702.
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