A vendor mixed two varieties of rice costing ₹60 per kg and ₹45 per kg in the ratio 3 : 7. If he sells the mixed variety at ₹65 per kg, then what is his gain percentage? [Give your answer correct to two decimal places.]
Answer & explanation
Correct answer: option 1
The cost of first type of rice = 60
The cost of second type of rice = 45
He mixed them in the ratio of = 3 : 7
Cost of the rice per kg after mixing them = \(\frac{(60 × 3) + (45 × 7)}{3 + 7}\) = 49.5
Selling price of the rice per kg = 65
Profit% = ( 65 - 49.5) × \(\frac{100}{49.5}\) = 31.31%