A grocer mixes two varieties of rice - one costing ₹40 per kg and the other costing ₹60 per kg. In the ratio 2 : 3. If he sells the mixed variety at ₹57.20 per kg, find his gain or loss percent.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 10% Gain.
Rice mixing: ₹40/kg and ₹60/kg in ratio of 2 : 3 and sold at ₹57.20/kg
Total ratio parts = 2 + 3 = 5
Cost of mixture per kg = (2 × 40 + 3 × 60)/5 = (80 + 180)/5 = 260/5 = 52
Profit per kg = 57.20 - 52 = 5.20
Profit percentage = (5.20/52) × 100 = 10%