Rajaram purchased a certain amount of wheat. If he sold one-fourth of the wheat at a profit of 12%, then the profit percent he needs to make on the remaining wheat to make an overall profit of 15% is :
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 16%
Let Rajaram bought 1000 kg of Wheat of 1000 Rs i.e 1kg for 1rs
If he sold one-fourth of the wheat at a profit of 12% = 1/4 of 1000kg for 12% profit
Cost price of 250kg of wheat = 250 + 12% of 250 = 250 + 30 = 280Rs.
If he needs to make overall profit of 15% i.e 15% of 1000 = 150Rs.
remaining rice = 1000 - 250 = 750Kg , CP of 750Kg rice = 750Rs
SP of 750Kg of Rice should be 1000 + 150 - 280 = 870Rs
Profit = (SP - CP) × 100/CP = 120 × 100/750 = 16%