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Select the correct answerA person buys 80 kg of rice and sells it at a profit of as much money as he paid for 30 kg. His profit percentage is?

Question

Select the correct answer

A person buys 80 kg of rice and sells it at a profit of as much money as he paid for 30 kg. His profit percentage is?

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Solution

Sure, let's solve this step by step:

Step 1: First, we need to find out the cost price of the rice. Let's assume the cost price of 1 kg of rice is 1.So,thecostpriceof80kgofricewouldbe1. So, the cost price of 80 kg of rice would be 80.

Step 2: The person makes a profit equal to the cost of 30 kg of rice. So, the profit is $30.

Step 3: Now, we need to calculate the selling price. The selling price is the cost price plus the profit. So, the selling price would be 80(costprice)+80 (cost price) + 30 (profit) = $110.

Step 4: The profit percentage is calculated as (Profit/Cost price) * 100. So, the profit percentage would be (30/30/80) * 100 = 37.5%.

So, the person's profit percentage is 37.5%.

This problem has been solved

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