A grocer bus mustard oil at the rate of Rs.34 a liter and rapeseed oil at the rate of Rs.30 a liter. He mixes the two in the ration of 2:1 and sells the mixture at the rate of Rs.36 a liter. What approximate profit percentage does he earn?
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Step-by-step explanation:
Let's assume the grocer buys 2 litres of mustard oil and 1 litre of rapeseed oil and mixes them entirely, i.e, in 2:1.
His cost = (34 × 2) + 30 = Rs. 98 for 3 litres
= 98/3
= Rs. 32.66 per litre
His selling price per litre = Rs. 36
Hence, Profit = 36 - 32.66 = Rs. 3.34
Profit % = (3.34/32.66) × 100 = 10% (approx.)
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