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Question 124
Two types of rice (type 1 and type 2) were mixed in the respective ratio of 1 : 3. The mixture was then sold @ 75.60 per kg to gain a profit of 20%. If the price of type 1 rice is Rs. 75 per kg, what is the price of type 2 price per kg?
Solution
Profit = 0.2 CP
Profit = SP - CP
1.2CP = SP
Hence, CP = (SP/1.2) = 75.6/1.2 = 63
Now, let the cost of type 1 rice is T1 and cost of type 2 be T2.
63 = $$\frac{T1 + 3T2}{4}$$
= (75 + 3*x)/4
x = 59
Therefore, cost of type 2 price is 59.
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