A merchant mixes two types of oil one costing Rs. 180 per kg and the other costing Rs. 220 in the ratio 3 : 1. What is the approximate profit percent if he sells this at Rs. 210 per kg.
Solution
Correct Answer: Option D
Cost price of the oil = (3/4)×C.P of first oil + (1/4)×C.P second oil
= (3/4)×180+(1/4)×220
= 135 + 55 = Rs. 190 per kg
⇒ Selling price of the oil = Rs. 210 per kg
∴ Profit on 1 kg of oil = S.P – CP
= 210 – 190
= Rs. 20
Profit percentage = [Profit/(C.P)]×100
= (20/190)×100
= (20/19)×10
≃ 10.5%
Practice More Questions on Our App!
Download our app for free and access thousands of MCQ questions with detailed solutions