Ricky uses a forged weighing machine that shows a 10% increased weight

1.	Ricky uses a forged weighing machine that shows a 10% increased weight. He bought 20 kg of rice at 80 rupees per kg. At what price should he sell the rice so that he gains an overall profit of 15%?1). Rs. 80 per kg2). Rs. 81.12 per kg3). Rs. 82.28 per kg4). Rs. 83.64 per kg
Answer» The weighing machine shows a 10% increased weight. If 20 kg weight is MEASURED, the weight machine will show = [20 + 20 × (10/100)] kg = 22 kg Because of this fault, Ricky will sell 20 kg of rice, but will TAKE price of 22 kg of rice. Cost price for Ricky = AMOUNT bought × Cost price for one kg rice = 20 × Rs. 80 = Rs. 1600 Suppose Ricky sells rice at Rs. T PER kg. Total selling price = 22 × Rs. T = Rs. 22T We know, Selling Price = Cost Price × (1+ (PROFIT Percentage)/100) For profit to be 15%, 22T = 1600 × (1+ (15/100)) T = (1600 × 1.15)/22 = 83.64 ∴ To gain an overall profit of 15%, rice should be sold at Rs. 83.64 per kg.

Ricky uses a forged weighing machine that shows a 10% increased weight. He bought 20 kg of rice at 80 rupees per kg. At what price should he sell the rice so that he gains an overall profit of 15%?1). Rs. 80 per kg2). Rs. 81.12 per kg3). Rs. 82.28 per kg4). Rs. 83.64 per kg

Answer»

The weighing machine shows a 10% increased weight.

If 20 kg weight is MEASURED, the weight machine will show = [20 + 20 × (10/100)] kg = 22 kg

Because of this fault, Ricky will sell 20 kg of rice, but will TAKE price of 22 kg of rice.

Cost price for Ricky = AMOUNT bought × Cost price for one kg rice = 20 × Rs. 80 = Rs. 1600

Suppose Ricky sells rice at Rs. T PER kg.

Total selling price = 22 × Rs. T = Rs. 22T

We know, Selling Price = Cost Price × (1+ (PROFIT Percentage)/100)

For profit to be 15%,

22T = 1600 × (1+ (15/100))

T = (1600 × 1.15)/22 = 83.64

∴ To gain an overall profit of 15%, rice should be sold at Rs. 83.64 per kg.

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