A shopkeeper sells two varieties of rice at 15% profit and 10% profit respectively. He mixes both varieties and marks the price 40% above the cost price and gives the discount of 20% on marked price. The cost price of rice which he sells at 10% profit is Rs. 3000. Find the cost price of rice which he sells at 15% profit.
A shopkeeper sells two varieties of rice at 15% profit and 10% profit respectively. He mixes both varieties and marks the price 40% above the cost price and gives the discount of 20% on marked price. The cost price of rice which he sells at 10% profit is Rs. 3000. Find the cost price of rice which he sells at 15% profit. Correct Answer Rs. 2000
Given:
Cost price of Rice which sell at 10% profit = Rs. 3000
Profit percent on 1st variety = 15%
Profit percent on 2nd variety = 10%
Concept:
Firstly we find the profit percent of the mixture and then we use mixture and alligation method.
Formula:
Selling price = Marked price - Discount price
Discount = (Marked Price × Discount%)/100
Calculation:
Let the cost price of mixture be 100x.
Marked price of mixture = 140x
Discount = (140x × 20)/100 = 28x
Selling price = 140x - 28x = 112x
Profit = 112x - 100x =12x
By the method of mixture and alligations
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Ratio of cost price = 2 : 3
Cost price of rice which he sell at 10% = Rs. 3000
⇒ 3 units = Rs. 3000
⇒ 1 unit = 1000
⇒ 2 units = Rs. 2000
∴ Cost price of rice which he sells at 15% = Rs. 2000
