Question
25 kg of rice ‘A is purchased for Rs 4/kg
while 22 kg of rice ‘B’ is purchased for Rs 6/kg. If the mixture of the both types of rice is sold at Rs 7/kg, then find the profit/loss incurred to the seller.Solution
Total cost price = 25 × 4 + 22 × 6 = Rs. 232
Total selling price = (25 + 22) × 7 = Rs. 329
Profit earned = 329 – 232 = Rs. 97
More Profit and loss Questions
Which method is used by Hicks to eliminate the income effect when price of a product is changed
In an open economy, ceteris paribus, If the marginal propensity to import increases, what will be the impact on Income Multiplier?
Calculate Domestic Income:
