A shopkeeper blends two types of rice, one costing ₹12.50 / kg and the other costing ₹14 / kg in the ratio of 4: 5. Find his profit percent if he sells the mixture at ₹16 / kg.
Answers
LCM of 4 and 5 =20
cost of first rice =12.50× 20
=₹250
cost of second rice =14×20
=₹280
Total cp =250+280=530
Total sp =16×20 =₹320
Profit =530-320=₹210
Profit%=210×100÷320 = 65.6% Ans.
ANSWER:
Given:
- Cost of two types of rice = ₹12.50 / kg & ₹14 / kg
- Ratio of the two types in mixture = 4 : 5
- Cost Price of Mixture = ₹16 / kg.
To Find:
- Profit Percent
Solution:
We are given that,
⇒ Ratio of the two types of rice in the mixture = 4 : 5
So,
Let the quantity of each type of rice be 4x and 5x respectively.
Hence,
⇒ Quantity of ₹12.50 / kg rice = 4x
⇒ Quantity of ₹14 / kg rice = 5x
Now,
⇒ Total Cost of 1st type of rice in mixture = 12.50 × 4x
⇒ Total Cost of 1st type of rice in mixture = ₹50x
And,
⇒ Total Cost of 2nd type of rice in mixture = 14 × 5x
⇒ Total Cost of 2nd type of rice in mixture = ₹70x
Hence,
⇒ Original cost of mixture of price = ₹50x + ₹70x
⇒ Original cost of mixture of price = ₹120x -------(1)
(This is our Cost Price.)
We are given that,
⇒ Cost of mixture per kg = ₹16.
And,
⇒ Total quantity of rice used per kg in the mixture = 4x + 5x = 9x.
Hence
⇒ Final total cost of mixture of rice = 16 × 9x
⇒ Final total cost of mixture of rice = ₹144x -------(2)
(This is our Selling Price.)
We know that,
⇒ Profit % = (SP - CP)/CP × 100
So,
⇒ Profit % = (144x - 120x)/120x × 100
⇒ Profit % = 24x/120x × 100
⇒ Profit % = 1/5 × 100
⇒ Profit % = 0.2 × 10
⇒ Profit % = 20%
Therefore, the profit % is 20%.
Formula Used:
- Profit % = (SP - CP)/CP × 100