In selling 20 kg of rice at Rs. 80 per kg, the seller has intentionally mixed 10 kg of low quality rice in it. Seller sells at cost price. Due to this, seller earns a profit of 33.33%. What is the price of 10 kg of low quality rice (in Rs.)?
Solution
Correct Answer: Option A
Let the price of a kg of low quality rice be Rs. T.
⇒ In 20 kg rice, 10 kg is of Rs. 80 per kg and remaining 10 kg is of Rs. T per kg.
Cost price = 10 × 80 + 10 × T = 800 + 10T
Sellin price = 20 × 80 = 1600
We know, Selling Price = Cost Price × (1 + Profit Percentage/100)
⇒ 1600 = (800 + 10T) × (1 + 33.33/100) = (800 + 10T) × (4/3)
⇒ 1600 = 3200/3 + 40T/3
⇒ 4800 = 3200 + 40T
⇒ T = 1600/40 = 40
∴ Price of 10 kg of low quality rice = 10 × Rs. 40 = Rs. 400
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