sweetmeat seller has 20 kilogram of sweets to sell. At the end of the day he could sell only 80% of his sweet and the balance sweets had to be thrown away if he is Steel made a profit of 16% calculate the percent increase in rate at which he sold his sweets
Answers
45 % increase in rate at which he sold his sweets
Step-by-step explanation:
20 kilogram of sweets to sell.
Let say cost price per kg = C
Total Cost Price = 20C
Let say Selling price per kg = S
At the end of the day he could sell only 80% of his sweet
=> Sweets sold = (80/100) * 20 = 16 kg
=> Total Selling Price = 16S
Profit = 16S - 20C
Profit % = ((16S - 20C)/20C ) * 100 = 16
=> 80S - 100C = 16C
=> 80S = 116C
=> S = 116C/80
=> S = 29C/20
Increase in rate = 29C/20 - C = 9C/20
% increase in rate = ((9C/20)/C ) * 100 = 45 %
45 % increase in rate at which he sold his sweets
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