Question

After buying 4 hectares of land, Shankarrao sold the land for Rs 16 lakh and made a profit of Rs 50,000. At what rate per hectare had he bought the land?

Answer 1

Shankarrao sold 4 hectares of land for Rs 16,00,000
∴ Selling price of 4 hectares of land = Rs 16,00,000

Shankarrao earned a profit of Rs 50,000
We know that
Profit = Selling price – Cost price
⇒ Cost price = Selling price – Profit
= Rs 16,00,000 – Rs 50,000
= Rs 15,50,000
So, cost price of 4 hectares of land = Rs 15,50,000
Cost price of 1 hectare of land$=\mathrm{Rs}\frac{1550000}{4}=\mathrm{Rs}3,87,500$
Hence, he bought the land at Rs 3,87,500 per hectare.