Select the correct answerA trader buys jowar at Rs.30 per kg. 20% of the grain gets wasted. He plans to sell the remaining grain so that he makes 40% overall profit. At what price (in Rs. per kg) should he sell the grain?Options4852.547.550
Question
Select the correct answerA trader buys jowar at Rs.30 per kg. 20% of the grain gets wasted. He plans to sell the remaining grain so that he makes 40% overall profit. At what price (in Rs. per kg) should he sell the grain?Options4852.547.550
Solution
To solve this problem, we need to first determine the cost price of the grain that the trader can actually sell (i.e., the 80% that is not wasted).
Step 1: Determine the cost price of the usable grain The trader buys the grain at Rs. 30 per kg, but 20% gets wasted. So, the cost price per kg of the usable grain is Rs. 30 / 0.80 = Rs. 37.5.
Step 2: Calculate the selling price to make a 40% profit The trader wants to make a 40% profit on the cost price. So, the selling price per kg should be 140% of the cost price.
Therefore, the selling price = 140/100 * 37.5 = Rs. 52.5.
So, the trader should sell the grain at Rs. 52.5 per kg to make a 40% overall profit. The correct answer is 52.5.
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