A shopkeeper blends two varieties of tea costing Rs. 12 and Rs. 9 per kg in the ratio 7:5. He sells the blended variety at the rate of Rs. 15.5 per kg. His percentage gain in the transaction is: (approximate)
Question
A shopkeeper blends two varieties of tea costing Rs. 12 and Rs. 9 per kg in the ratio 7:5. He sells the blended variety at the rate of Rs. 15.5 per kg. His percentage gain in the transaction is: (approximate)
Solution
To solve this problem, we first need to find the cost price of the blended tea.
Step 1: Calculate the cost price of the blended tea The cost price of the blended tea is the weighted average of the cost prices of the two varieties of tea. The weights are the ratio in which the two varieties are blended, which is 7:5.
So, the cost price of the blended tea per kg is (712 + 59) / (7+5) = Rs. 10.83 (approx)
Step 2: Calculate the gain The gain is the difference between the selling price and the cost price. So, the gain is 15.5 - 10.83 = Rs. 4.67 (approx)
Step 3: Calculate the percentage gain The percentage gain is the gain divided by the cost price, multiplied by 100. So, the percentage gain is (4.67 / 10.83) * 100 = 43.12% (approx)
So, the shopkeeper's approximate percentage gain in the transaction is 43.12%.
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