Padam purchased 30 kg of riceat the rate of 17.50 per kg and another 30 kg rice at a certain rate. He mixedthe two and sold the entire quantity at the rate of rs. 18.60 per kg and made 20% overall profit. At what priceper kg did he purchase the lot
Answers
Given:
30kg of rice at Rs 17.50/kg
30 kg of another rice at an unknown rate.
Two type of rice were mixed and sold at Rs 18.60/kg
Made a profit of 20%
To Find:
The price of the the unknown rate
Solution
Define x :
Let the price of the known rate b Rs x/kg
Find the cost of the rice:
30kg of rice at Rs 17.50/kg = 30 x 17.50
30kg of rice at Rs 17.50/kg = Rs 525
30kg of rice at Rs x/kg = 30x
Total cost = Rs (525 + 30x)
Find the cost per kg:
Total weight = 30 + 30
Total weight = 60 kg
60 kg = Rs (525 + 30x)
1 kg = Rs (8.75 + 0.5x)
Find the cost price before the profit was markup:
Profit = 20%
Selling Price = 100 + 20
Selling Price = 120%
Selling Price = 120%
Selling Price = Rs 18.60
120% = Rs 18.60
100% = (18.60 ÷ 120) x 100
100% = Rs 15.50
Solve x:
Cost Price = Rs (8.75 + 0.5x)
Cost Price = Rs 15.50
8.75 + 0.5x = 15.50
0.5x = 6.75
x = Rs 13.50
Answer: He bought the second type of rice at Rs 13.50/kg