Question 89

A rice trader buys 20 quintals of rice for Rs 8,580. However, 22% rice is lost in transportation. At what rate should he sell to earn 20% profit?

Solution

Cost price = Rs. 8580 for 20 quintals

Quantity of rice with the trader after transportation lost = $$\frac{100 - 22}{100} \times 20$$

= $$\frac{78}{5} \times 3$$ = 15.6 quintals

To have 20% profit, total selling price of the trader should be = $$\frac{120}{100} \times 8580$$

= Rs. 10,296

$$\therefore$$ Selling price per quintal = $$\frac{10296}{15.6} = Rs. 660$$

=> Ans - (C)

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