Question

A wholesaler bought 20 sacks of wheat for
24,000. He sold 8 sacks at a gain of 10%.
At what gain per cent should he sell the remaining
sacks so as to gain 25% on the whole ? answer
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Answer 1

Step-by-step explanation:

Cost per sack= 24000/20 = 1200

25% gain on whole = 24,000 * 25% = 6,000

for the above gain the total selling value should be 24,000 + 6000 = 30,000

Selling value of 8 sacks sold at 10% profit

= (1200*8)*1.10

= 10,560

Remaining 12 sacks should be sold worth of 30,000 - 10,560 = 19,440 to warn an overall profit of 25%

Thus selling price per sack should be 19,440/12 = 1620

Gain per sack = 1620 - 1200 = 420

So the profit percentage on these would be 420/1200 = 0.35 or 35%