High School

A person buys two types of rice costing 325 Rs/kg and 195 Rs/kg respectively. The quantities he bought are 720 kg and 675 kg respectively. He wants to earn a 22% profit on the first kind of rice but wants to gain a 40% overall profit. At what price should he sell the second kind of rice?

Answer :

Final answer:

To achieve a 40% overall profit, the person should sell the second type of rice at a price of 139.2857 Rs / kg.

Explanation:

To calculate the selling price for the second type of rice in order to achieve a 40% overall profit, we need to first calculate the cost price of the second type of rice. To calculate the cost price, we can use the formula:

Cost price = Selling price / (1 + Profit percentage)

Using this formula, the cost price of the second type of rice is: Cost price = 195 / (1 + 0.4) = 139.2857 Rs / kg

Therefore, in order to achieve a 40% overall profit, the person should sell the second type of rice at a price of 139.2857 Rs / kg.

Learn more about Calculating the selling price to achieve a certain profit percentage here:

https://brainly.com/question/34469362

#SPJ11

Other Questions