Question

A bag weighing 120 kg of rice was sold in such a way that 2/3^rd part of its gained 20% while the rest was sold at loss of 10%. Calculate the overall gain if cost price of rice is Rs. 50/kg. 
1. Rs. 600
2. Rs. 800
3. Rs. 1000
4. Rs. 400
5. None of the above

Answer 1

Correct Answer - Option 1 : Rs. 600

Given:

Total quantity of rice = 120 kg

Cost of rice = Rs. 50/kg

Formula used:

S.P. = C.P. + Profit

S.P. = C.P. - loss

Calculations:

Here, Total quantity = 120

⇒ Ratio of rice earning profit : rice earning loss = 2 : 1

⇒ Quantity of rice earning profit = (2/3) × 120

⇒ 80 kg

⇒ C.P. = 80 × 50

⇒ C.P. = 4000

⇒ S.P. = 4000 + (4000 × 0.20)

⇒ S.P. = 4800

⇒ Cost price of rice under loss = 40 × 50

⇒ C.P. = 2000

⇒ S.P. = 2000 - (2000 × 0.10)

⇒ S.P. = 1800

⇒ Total S.P. = 6600

⇒ Total C.P. = 6000

⇒ Profit = 6600 - 6000

∴ Total profit earned is Rs. 600