Question 78

A rice trader buys 22 quintals of rice for Rs 3,344. 24% rice is lost in transportation. At what rate should he sell to earn 30% profit?

Solution

Cost price = Rs. 3344 for 22 quintals

Quantity of rice left with the trader after transportation lost = $$\frac{100 - 24}{100} \times 22$$

= $$\frac{19}{25} \times 22$$ = 16.72 quintals

To have 30% profit, total selling price of the trader should be = $$\frac{130}{100} \times 3344$$

= Rs. 4347.2

$$\therefore$$ Selling price per quintal = $$\frac{4347.2}{16.72} = Rs. 260$$

=> Ans - (D)

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