A vendor bought 60 kg of sugar at the rate of ₹25/kg. He sold 60% of the total quantity at the rate of ₹30/kg. At what price (in ₹/kg) should he sell the remaining quantity to make a 30% overall profit?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 36.25.
Cost Price (CP) = 60 × 25 = ₹1500
Quantity sold = 60% of 60 = 36 kg
Remaining = 60 - 36 = 24 kg
Selling Price of 36 kg = 36 × 30 = ₹1080
Let SP of remaining 24 kg be = 24 × x = 24x
Total SP = 1080 + 24x
Required Profit = 30% of 1500 = 450
1080 + 24x = 1500 + 450 = 1950
⇒ 24x = 1950 - 1080 = 870
⇒ x = = 36.25