Question
- A merchant purchased 5 quintals of sugar for Rs 2900 and spent Rs 45 on transport, 5 paise per kg as octroi duty and Rs 30 as coolie charges. He sold the sugar at Rs 6.30 per kg. What was his gain per cent?
Answer: Option A
Was this answer helpful ?
Let the cost price of sugar be Rs X.
We can calculate the cost price, X, using the given information:
Cost price, X = (5 quintals × 100 kg/quintal) × Rs 2900 + Rs 45 + (5 paise/kg × 500 kg) + Rs 30
X = (500 × 2900) + 45 + (5 × 500) + 30
X = Rs 14,500 + 45 + 2500 + 30
X = Rs 17,075
Now, we can calculate the selling price of the sugar, Y, using the given information:
Selling price, Y = (5 quintals × 100 kg/quintal) × Rs 6.30
Y = (500 × 6.30)
Y = Rs 3,150
Now, we can calculate the gain, G, using the formula:
Gain, G = (Selling price – Cost price) × 100
G = (Y – X) × 100
G = (3150 – 17075) × 100
G = -14,925 × 100
G = -5%
Therefore, the gain per cent is 5%.
If you think the solution is wrong then please provide your own solution below in the comments section .
Was this answer helpful ?
Submit Solution