A retailer has 250 kg of rice a part of which he sells at 10% profit. The remaining quantity of rice is of low quantity and he sold it at 5% loss. Overall he made a profit of 7%. The quantity of rice sold at 5% loss is :
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 50 kg
Total Rice = 250 kg
Overall Profit = 7%
Let x be the quantity of rice sold at 5% loss.
(250 - x) be the quantity of rice sold at 10% profit.
Overall SP = Total CP × (1 + Overall profit)
$(250 - x)1.1+x×0.95=250×1.07$
$⇒275-0.15x=267.5$
$⇒0.15x=7.5$
$⇒x=50$