A merchant sells 195 kg of wheat for ₹10,260 at a profit of ₹4.50 per kg of wheat. What is the cost price (in ₹, to the nearest integer) of 15 kg of wheat?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 722.
SP of 195 kg wheat = 10260
SP of 15 kg wheat = (10260/195) × 15
⇒ 789.23
Now, profit on 15 kg wheat = 4.50 × 15
⇒ 67.5
CP = SP - Profit
CP of 15 kg wheat = 789.23 - 67.5
⇒ 721.73 ≈ 722