A shopkeeper has 300 Kg millet, a part of which he sells at 10% profit. The remaining quantity of millet was of poor quality, and he sold it at a 5% loss. In the whole transaction, he made a profit of 7%. The quantity of the millet sold at 5% loss is:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → 60 Kg
Let $x$ kg be sold at $5\%$ loss.
Then $(300-x)$ kg is sold at $10\%$ profit.
Assume cost price per kg $=100$.
Total cost price:
$300\times100=30000$
Overall profit $7\%$ gives total selling price:
$30000\times1.07=32100$
Selling price of $(300-x)$ kg at $10\%$ profit:
$(300-x)\times110$
Selling price of $x$ kg at $5\%$ loss:
$x\times95$
Equation:
$(300-x)\times110+x\times95=32100$
$33000-110x+95x=32100$
$33000-15x=32100$
$15x=900$
$x=60$
final answer: $60$ kg