A vendor mixed two varieties of rice costing ₹60 per kg and ₹45 per kg in the ratio 3 : 7. If he sells the mixed variety at ₹65 perkg, then what is his gain percentage? [Give your answer correct to two decimal places.]
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 31.31%.
Explanation :
Let the amount of two varieties of rice be 3x and 7x respectively.
Now, the cost of first variety = 3x × 60 = 180x
The cost of second variety = 7x × 45 = 315x
The total cost price = 180x + 315x = 495x
The total amount of rice = 3x + 7x = 10x
The selling price of the total amount of rice = 10x × 65 = 650x
Now profit = S.P. - C.P. = 650x - 495x = 155x
Profit % = (P/C.P.) × 100
P% = (155x/495x) × 100
P% = 31.31
Hence the required profit percentage is 31.31%.