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A rice trader buys 16 quintals of rice f...

A rice trader buys 16 quintals of rice for Rs. 5632. 20% rice is lost in transportation. At what rate should he sell to earn 25% profit?

A

Rs. 225.2 per quintal

B

Rs. 550 per quintal

C

Rs. 440 per quintal

D

Rs. 563.2 per quintal

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem step by step, we will follow the given details and calculations: ### Step 1: Calculate the Cost Price (CP) of Rice The trader buys 16 quintals of rice for Rs. 5632. **CP for 16 quintals = Rs. 5632** ### Step 2: Calculate the Loss in Rice Due to Transportation The problem states that 20% of the rice is lost in transportation. **Loss in rice = 20% of 16 quintals** \[ \text{Loss} = \frac{20}{100} \times 16 = 3.2 \text{ quintals} \] ### Step 3: Calculate the Quantity of Rice Left After Loss To find out how much rice is left after the loss, we subtract the loss from the initial quantity. **Quantity left = 16 quintals - 3.2 quintals** \[ \text{Quantity left} = 16 - 3.2 = 12.8 \text{ quintals} \] ### Step 4: Calculate the Selling Price (SP) for 25% Profit To earn a profit of 25%, we need to calculate the Selling Price (SP) based on the Cost Price (CP). **SP formula:** \[ \text{SP} = \text{CP} \times \left(1 + \frac{\text{Profit Percentage}}{100}\right) \] Here, the profit percentage is 25%. **SP for 16 quintals:** \[ \text{SP} = 5632 \times \left(1 + \frac{25}{100}\right) = 5632 \times 1.25 = 7040 \text{ Rs.} \] ### Step 5: Calculate the Selling Price per Quintal Now, we need to find the selling price per quintal based on the quantity of rice left. **SP per quintal:** \[ \text{SP per quintal} = \frac{\text{Total SP}}{\text{Quantity left}} = \frac{7040}{12.8} \] ### Step 6: Perform the Calculation Now we will perform the division to find the SP per quintal. \[ \text{SP per quintal} = \frac{7040}{12.8} = 550 \text{ Rs.} \] ### Final Answer The rate at which the trader should sell the rice to earn a 25% profit is **Rs. 550 per quintal**. ---
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