Subject: General Aptitude · Chapter: Profit and Loss · Exam: 2010 · Marks: · Difficulty:
A shopkeeper bought 30 kg of wheat at the rate of ₹ 45 per kg. He sold forty percent of the total quantity at the rate of ₹ 50 per kg. Approximately at what price per kg should he sell the remaining quantity to make 25 percent overall profit? (Bank P.O., 2010)
(a)₹ 50
(b)₹ 52
(c)₹ 54
(d)₹ 56
(e)₹ 60
Answer
Answer (as printed): E
Explanation
C.P. of 30 kg wheat = ₹(30 × 45) = ₹ 1350. Quantity of wheat sold = 40\% of 30 kg = 12 kg. Quantity left = (30 – 12) kg = 18 kg. For 25\% profit, desired S.P. $=₹\left(\frac{125}{100} \times 1350\right)=₹ 1687.50$. Money realised by selling 12 kg wheat = ₹(12 × 50) = ₹ 600. Balance required = ₹(1687.50 – 600) = ₹ 1087.50. Required price $=₹\left(\frac{1087.50}{18}\right)$ per kg = ₹ 60.41 per kg ≈ ₹ 60 per kg.
Explanation as extracted from the printed page; notation may be imperfect.