Question

A shopkeeper bought rice worth Rs. 4,500. He sold one-third of it at 10% profit. If he desires a profit of 12% on the whole, find the selling price of the rest of the rice.

• A. Rs. 3,390
• B. Rs. 3,300
• C. Rs. 3,400
• D. Rs. 3,360

Answer 1

The correct option is A Rs. 3,390

Given, C.P. of the rice $=Rs4500$

$\Rightarrow$ C.P. of one -third of total rice $=Rs\frac{4500}{3}=Rs1500$

Profit of one -third of total rice $=10$ %

So, Profit % $=\frac{S.P.-C.P.}{C.P.}\times 100=10$

$\Rightarrow \frac{S.P.-1,500}{1,500}\times 100=10$

$\Rightarrow S.P.-1,500=150$

$\Rightarrow S.P.=Rs1,650$

Hence, Selling price of one -third of total rice $=Rs1,650$

So, Profit on the whole % $=\frac{S.P.-C.P.}{C.P.}\times 100=12$

$\Rightarrow \frac{S.P.-4,500}{4,500}\times 100=12$

$\Rightarrow S.P.-4,500=540$

$\Rightarrow S.P.=Rs5,040$

Thus, selling price of the two thirds of rice $=Rs5,040-Rs1,650=Rs3,390$