35. Jayram buys 300 kg rice at the rate of Rs 900 per quintal. He sold 2/3 of rice at 10% profit. At what rate should he sell the remaining quantity to gain 15% profit on the whole ?
Answers
To gain a 15% profit Jayram needs to sell the remaining quantity at a rate of Rs 310.5 per kg, which would result in a loss for rice.
Given:
Total quantity bought = 300kg
Price = 900 per quintal
Quantity sold = 2/3
Profit = 10%
To find:
The rate at which the remaining quantity must be sold to gain 15% profit on the whole
Solution:
Converting 900 per quintal to the rate per kg:
Rate per kg = Rate per quintal / 100
= 900 / 100
= 9
Calculating the CP -
CP = Quantity x Rate
= 300 x 9
= 2700
Calculating the quantity sold -
= 2/3 x 300
= 200
Calculating the quantity sold with 10% profit ( As given) -
= CP X (1 + Profit%)
= 2700 x (1 + 0.10)
= 2700 x 1.10
2970
Determining the CP
= Total Cost Price - Cost price of quantity sold
= 2700 - 2970
= -270 ( Loss)
Determining the SP to gain a 15% profit -
SP = CP of remaining quantity x (1 + Profit%)
= (-270) x (1 + 0.15)
= (-270) x 1.15
= -310.5
Answer: To gain a 15% profit Jayram needs to sell the remaining quantity at a rate of Rs 310.5 per kg, which would result in a loss for rice.
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