Question

. 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.​

Answer 1

The total profit for the grain merchant selling 600 quintals of rice is Rs 12800. To calculate this, we first need to calculate the profit on one quintal. The profit percentage is 7%, so if a quintal costs Rs 250 the profit is 7% of 250 which is Rs 17.5. Now we multiply this with the number of quintals sold, which is 600, to get Rs 10500 as the profit. We then add in the overhead charges of Rs 1000 to get a total profit of Rs 12800. The selling price of 600 quintals of rice is therefore Rs 12800 plus Rs 250 times 600, which equals Rs 180000.