coolhabhi wrote:A person bought certain quantity of rice at the rate of 150 per quintal. 10% of the rice was spoilt. At what price (per quintal) should he sell the remaining rice to earn 20% profit?
a)170
b)175
c)180
d)200
e)225
Let the amount purchased = 10 quintals.
Total cost for 10 quintals = (number of quintals)(price per quintal) = 10*150 = 1500.
Since 20% profit must be earned, the selling price = 1500 + (20% of 1500) = 1500 + 300 = 1800.
Since 10% of the quintals are spoiled, the number of quintals sold = 10 - (10% of 10) = 10 - 1 = 9 quintals.
Price per quintal = (total selling price)/(quintals sold) = 1800/9 = 200.
The correct answer is
D.
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