A trader buys 50 kg of rice at ₹50 per kg and 30 kg of a different variety at ₹60 per kg. He mixes the two varieties and sells the entire mixture at ₹55 per kg. What is his total profit or loss?
Show answer & explanation
Correct answer: A
Explanation
50 kg Rice = ₹50/kg
30 kg Rice = ₹60/kg
Selling Price = ₹55/kg
Total Cost Price = 50 × 50 + 30 × 60 = 4300
Total Quantity = 50 + 30 = 80 kg
Total Selling Price = 80 × 55 = 4400
Profit = 4400 − 4300 = 100