A shopkeeper bought 150 kg of rice at the rate of Rs. 160 per kg. He sold 50% of the total quantity at the rate of Rs. 200 per kg. At what price per kg should he sell the remaining quantity to make 35% overall profit? (In Rs)
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 232.
Total cost = 150 × 160 = Rs. 24000
Desired total revenue = 24000 × 1.35 = Rs. 32400
Revenue from first sale = 75 × 200 = Rs. 15000
Required revenue from remaining = 32400 - 15000 = Rs. 17400
Selling price for remaining = 17400 ÷ 75 = Rs. 232/kg