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Two types of rice (type 1 and type 2) were mixed in the respective ratio of 1 : 3. The mixture was then sold @ 75.60 per kg to gain a profi…

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Two types of rice (type 1 and type 2) were mixed in the respective ratio of 1 : 3. The mixture was then sold @ 75.60 per kg to gain a profit of 20%. If the price of type 1 rice is Rs. 75 per kg, what is the price of type 2 price per kg?
  • ARs. 55
  • BRs. 53
  • CRs. 59
  • DRs. 57
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Solution
Profit = 0.2 CP

Profit = SP - CP

1.2CP = SP

Hence, CP = (SP/1.2) = 75.6/1.2 = 63

Now, let the cost of type 1 rice is T1 and cost of type 2 be T2.

63 = $\frac{T1 + 3T2}{4}$

= (75 + 3*x)/4

x = 59

Therefore, cost of type 2 price is 59.