A grocer punchased 50 kg of rice at ₹40 per kg and 20 kg of another variety of rice at ₹55 per kg. He mixed the two varieties and sold the entire mixture at ₹48 per kg. Find his total profit or loss in this transation.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Profit of ₹260.
Cost price:
⇒ 50 × 40 = ₹2000
⇒ 20 × 55 = ₹1100
Total CP = ₹3100
Total rice = 70 kg
Selling price = 70 × 48 = ₹3360
Profit = 3360 − 3100 = ₹260