A merchant sells 195 kg of wheat for Rs. 10,260 at a profit of Rs. 4.50 per kg of wheat. What is the cost price (in Rs., to the nearest integer) of 15 kg of wheat?

Question

Question

This question was previously asked in

SSC CHSL Exam 2024 Tier-I Official Paper (Held On: 10 Jul, 2024 Shift 3)

Answer 1

Given:

Merchant sells 195 kg of wheat for Rs. 10,260 with a profit of Rs. 4.50 per kg.

Concept:

The cost price (CP) can be calculated by subtracting the total profit from the selling price (SP).

Formula Used:

Total Profit = Profit per kg × Total kg

Cost Price (CP) = Selling Price (SP) - Total Profit

CP per kg = Total CP / Total kg

Calculation:

We have,

⇒ Total kg = 195 kg

⇒ Selling Price (SP) = Rs. 10,260

⇒ Profit per kg = Rs. 4.50

⇒ Total Profit = 195 kg × Rs. 4.50

⇒ Total Profit = Rs. 877.50

⇒ Cost Price (CP) = Rs. 10,260 - Rs. 877.50

⇒ CP = Rs. 9,382.50

⇒ CP per kg = Rs. 9,382.50 / 195 kg

⇒ CP per kg = Rs. 48.10 (approx.)

Cost Price of 15 kg of wheat:

⇒ 15 kg × Rs. 48.10

⇒ Rs. 721.50

To the nearest integer, Cost Price of 15 kg of wheat is Rs. 722.

∴ The correct answer is option 1.

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