Akram purchased 700 kg of rice at 1,100 per kg. He sold the same at a profit of 6%. Find the

May 2023 1 4 Report

Akram purchased 700 kg of rice at 1,100 per kg. He sold the same at a profit of 6%. Find the selling price of the rice and his total profit.

Answer:

SP = (1100 + (6% of 1100)) = 1166 per kg

So, (1166 x 700) = 816200 for 700kg

Total profit = 1166 - 1100 = 66 per kg

So, 66 x 700 = 46200 for 700kg