A shopkeeper purchases 40 kg of rice at the rate of Rs. 35 per kg and 50 kg of rice at the rate of Rs. 40 per kg. If he sells the mixture to make a profit of 20%, the corresponding selling price for this transaction is :
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Rs. 45.33/kg
Total cost of the mixture:
\(40 \times 35 + 50 \times 40 = 1400 + 2000 = 3400\)
Total quantity = 40 + 50 = 90 kg, so the cost price per kg is
\( \displaystyle \frac{3400}{90} = \frac{340}{9} \)
For a profit of 20%, the selling price per kg is
\( \displaystyle \frac{340}{9} \times \frac{120}{100} = \frac{136}{3} \)
\(\approx 45.33\)
So the selling price is Rs. 45.33 per kg.