A seller combines 26 kg of rice priced at ₹20 per kg with 30 kg of rice priced at ₹36 per kg and sells the mixture for ₹30 per kg. What is the percentage of profit he makes?
Answer & explanation
Correct answer: option 2
According to the question,
Cost price of 26 kg of rice = 26 × 20 = Rs. 520
Cost price of 30 kg of rice = 30 × 36 = Rs. 1080
Total cost price of 56 kg of rice = 520 + 1080 = Rs. 1600
Selling price of 56 kg of rice = 56 × 30 = Rs.1680
Profit % = {[(SP - CP)/CP] × 100}
= {[(1680 - 1600)/1600] × 100}
= (80/1600) × 100 = 5%