A rice trader buys 16 quintals of rice for Rs 1,280. 18% rice is lost in transportation. At what rate should he sell to earn 23% profit?
Cost price = Rs. 1280 for 16 quintals
Quantity of rice with the trader after transportation lost = $$\frac{100 - 18}{100} \times 16 = \frac{82}{25} \times 4$$
= 13.12 quintals
To have 23% profit, total selling price of the trader should be = $$\frac{123}{100} \times 1280$$
= Rs. 1574.4
$$\therefore$$ Selling price per quintal = $$\frac{1574.4}{13.12} = Rs. 120$$
=> Ans - (D)
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