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Activity Discussion Math Profit and loss

  • Profit and loss

    Posted by Anjali on June 22, 2023 at 5:21 pm

    A grain merchant sold 600 quintals of rice at a profit of 7%. If a quintal of rice cost him Rs 250 and his total overhead charges for transportation, etc. were Rs 1000 find his total profit and the selling price of 600 quintals of rice.

    Anubhav Singh replied 1 year, 4 months ago 2 Members · 1 Reply
  • 1 Reply
  • Anubhav Singh

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    June 22, 2023 at 5:41 pm
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    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.

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