Select the correct answerA shopkeeper bought 120 quintals of wheat. 20% of it was sold at 25% loss. At what percent gain should he sell the rest to gain 25% on the whole transaction?Options4037.536.535
Question
Select the correct answerA shopkeeper bought 120 quintals of wheat. 20% of it was sold at 25% loss. At what percent gain should he sell the rest to gain 25% on the whole transaction?Options4037.536.535
Solution
To solve this problem, we need to first understand how much wheat was sold at a loss and how much was left.
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The shopkeeper bought 120 quintals of wheat. 20% of this is sold at a 25% loss. So, 20% of 120 quintals is 24 quintals.
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This means the shopkeeper has 120 - 24 = 96 quintals of wheat left to sell.
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The shopkeeper wants to gain 25% on the whole transaction. This means he wants to gain 25% on the 120 quintals of wheat he bought. 25% of 120 quintals is 30 quintals.
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But he has already lost 25% on the 24 quintals of wheat he sold. 25% of 24 quintals is 6 quintals.
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So, the shopkeeper needs to gain 30 + 6 = 36 quintals on the 96 quintals of wheat he has left to sell.
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To find out what percent gain this is, we divide the amount he needs to gain by the amount he has left to sell and multiply by 100.
So, (36/96)*100 = 37.5%
Therefore, the shopkeeper should sell the rest of the wheat at a 37.5% gain to gain 25% on the whole transaction. So, the correct answer is 37.5.
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