Question 97

A retailer bought 30 kg of rice at a discount of 20% on the marked price. Besides, he was given 8 kg of rice free of cost, by the wholesaler for purchasing a bulk quantity. If the retailer sold the entire quantity of rice at the marked price to his customers, what was his profit percent ?

Solution

Let marked price of 1 kg rice = $$Rs. 10$$

=> Marked price of 30 kg rice = $$30 \times 10 = Rs. 300$$

Discount % = 20%

Thus, cost price of retaailer = $$\frac{80}{100} \times 300 = Rs. 240$$

Additionally, he got 8 kg rice for free and he sells at original marked price.

Thus, selling price of 38 kg rice = $$38 \times 10 = Rs. 380$$

$$\therefore$$ Profit % = $$\frac{380 - 240}{240} \times 100$$

= $$\frac{175}{3} = 58\frac{1}{3}\%$$

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