Question 62
How many kgs of wheat costing Rs.16 per kg must be mixed with 50 kg of bairn costing Rs.10.80 per kg, so that 20% gain may be obtained by selling the mixture at Rs. 14.40 per Kg?
Solution
We earn a profit of 20% with a selling price of 14.4 per kg.
This gives a cost price of $$\frac{14.4}{1.2}=12$$ per kg.
Let us assume that X kgs of wheat is mixed which gives a total CP of X*16 + 50*10.8 = 540 + 16X.
This cost price is also equal to product of average CP * Quantity = 12(X + 50).
Equating both the Cost prices, we get X = 15 Kg.
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