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22 Jul 2022, 18:37
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Difficulty:
65%
(hard)
Question Stats:
57% (02:56) correct
43%
(02:32)
wrong
based on 7
sessions
History
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A trader bought some rice and sold 75% of the total quantity at a rate of $ 1100 per ton and in this way he recovered 72% of his total investment. At what rate (in $ per ton) should he sell the remaining rice in order to have a net profit of 8%?
A. 1250
B. 1350
C. 1450
D. 1550
E. 1650
A. 1250
B. 1350
C. 1450
D. 1550
E. 1650
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genericUser
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23 Jul 2022, 01:41
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A trader bought some rice and sold 75% of the total quantity at a rate of $ 1100 per ton and in this way he recovered 72% of his total investment. At what rate (in $ per ton) should he sell the remaining rice in order to have a net profit of 8%?
let \(q\) be the number of tons that the trader bought
let \(p\) be the initial price per tons
let \(s\) be the sell price that we are intrested in
\(0.75*q*1100=0.72*q*p \to p=\frac{0.75*1100}{0.72}\)
since we are delaing with percentage q play no role and it will not consider from now on
the remaining 0.25 of rice should sell to get the 8% profit, but remember that 0.72 of the initial investment has already been recoverd by the sell of 75% of rice.
\(0.25*s=p*1.08-p*0.72 \to s=\frac{p*0.36}{0.25} \to s=\frac{0.36*0.75*1100}{0.72*0.25}=1650\)
A. 1250
B. 1350
C. 1450
D. 1550
E. 1650
let \(q\) be the number of tons that the trader bought
let \(p\) be the initial price per tons
let \(s\) be the sell price that we are intrested in
\(0.75*q*1100=0.72*q*p \to p=\frac{0.75*1100}{0.72}\)
since we are delaing with percentage q play no role and it will not consider from now on
the remaining 0.25 of rice should sell to get the 8% profit, but remember that 0.72 of the initial investment has already been recoverd by the sell of 75% of rice.
\(0.25*s=p*1.08-p*0.72 \to s=\frac{p*0.36}{0.25} \to s=\frac{0.36*0.75*1100}{0.72*0.25}=1650\)
A. 1250
B. 1350
C. 1450
D. 1550
E. 1650
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Problem Solving (PS) Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
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