Helpful
Up0
DownNot Helpful
::
Firstly, calculating the cost price of the 600 quintals of rice:
Cost price of 1 quintal of rice = Rs 250
Therefore, the cost price of 600 quintals of rice = Rs 250 x 600 = Rs 1,50,000
Then calculating the total profit the grain merchant made:
Profit = 7% of cost price
therefore 7/100 x Rs 1,50,000 = Rs 10,500
To find the selling price of 600 quintals of rice, we need to add the profit and overhead charges to the cost price:
Selling price = cost price + profit + overhead charges
Overhead charges = Rs 1000
therefore the selling price would be Rs 1,50,000 + Rs 10,500 + Rs 1000 = Rs 1,61,500
Therefore, the total profit made by the grain merchant is Rs 10,500 and the selling price of 600 quintals of rice is Rs 1,61,500.