A trader mixes two varieties of rice costing ₹63/kg and ₹87/kg in the ratio 3:2. What is the percentage profit if he sells the mixture at ₹79/kg?
Show answer & explanation
Correct answer: A
Explanation
Given:
Price₁ = ₹63/kg
Price₂ = ₹87/kg
Ratio = 3 : 2
Selling Price = ₹79/kg
According to the formula:
Cost Price of the mixture = (Total Cost / Total Quantity)
Mixture CP = (63 × 3 + 87 × 2) / 5
= (189 + 174) / 5
= 363 / 5 = 72.6
Profit = 79 − 72.6 = 6.4
Profit % = (6.4 / 72.6) × 100
= (64 / 726) × 100
= (32 / 363) × 100 = 8.82%