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A merchant buys 30 kg of rice at Php 40/kg, and another 20kg of rice at Php 30/kg. At what price should he sell the remaining mixture to get an overall profit of 30% And how much will be the profit of the merchant (SHOW cOMPLETE SOLUTION)
A merchant buys 30 kg of rice at Php 40/kg, and another 20kg of rice at Php 30/kg. At what price should he sell the remaining mixture to get an overall profit of 30% And how much will be the profit of the merchant (SHOW cOMPLETE SOLUTION)
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Answer:
=> Total cost for the entire quantity of rice = (30 × 40) + (20 × 30) = Rs. 1800.
=> If his profit is 30%,
then the sales realization = 1.3 1800 = Rs. 2340.
=> He sells 25 kg at Rs. 36/kg = Rs. 900.
=> Therefore to make the said amount of profit,
=> he should sell the remaining 25 kg of rice at Rs. 2340 – Rs. 900 = Rs.1440
=> ∴ The selling price of a kg of rice for the remaining 25 kg = 1440/25 = Rs. 57.6.
=> 57.6 is right answer. !
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