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A shopkeeper purchases 40 kg of rice at the rate of ?35 per kg and 50 kg of rice at the rate of ?40 per kg. If he sells the mixture to make a profit of 20%, the corresponding selling price for this transaction is:
?45.33/kg
?47.67/kg
?35.39/kg
?37.30/kg
- To find the cost price of the rice mixture:
- 40 kg @ ?35/kg: Total = 40 × 35 = ?1,400
- 50 kg @ ?40/kg: Total = 50 × 40 = ?2,000
- Total cost = ?1,400 + ?2,000 = ?3,400
- Total quantity = 40 kg + 50 kg = 90 kg
- Cost price per kg = ?3,400 / 90 kg = ?37.78/kg
- To calculate the selling price for a 20% profit:
- 20% of ?37.78/kg = 0.20 × 37.78 = ?7.556
- Selling price per kg = ?37.78 + ?7.556 = ?45.336/kg
- Option 1: ?45.33/kg - This is the closest to the calculated value.
- Option 2: ?47.67/kg - Too high.
- Option 3: ?35.39/kg - Lower than cost price.
- Option 4: ?37.30/kg - Below cost price.
Correct Answer: Option 1 - ?45.33/kg.
.
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