A 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?
Question
A 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?
Solution
Step 1: Calculate the amount of wheat sold at a loss
The shopkeeper sold 20% of the 120 quintals of wheat at a loss. So, the amount of wheat sold at a loss is 20/100 * 120 = 24 quintals.
Step 2: Calculate the amount of wheat remaining
The remaining wheat is 120 - 24 = 96 quintals.
Step 3: Calculate the total cost of the wheat
Let's assume the cost price of 1 quintal of wheat is 1 = $120.
Step 4: Calculate the total selling price for a 25% gain
The shopkeeper wants to gain 25% on the whole transaction. So, the total selling price should be 125/100 * 150.
Step 5: Calculate the selling price of the wheat sold at a loss
The shopkeeper sold 24 quintals of wheat at a 25% loss. So, the selling price of this wheat is 75/100 * 24 = $18.
Step 6: Calculate the selling price of the remaining wheat
The selling price of the remaining wheat is the total selling price - the selling price of the wheat sold at a loss = 18 = $132.
Step 7: Calculate the percent gain on the remaining wheat
The cost price of the remaining wheat is 96 * 96. So, the percent gain on the remaining wheat is (132 - 96) / 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.
Similar Questions
A shop keeper bought 30 kg. of wheat at the rate of Rs.45 per kg. He sold 40% of the total quantity at the rate of Rs.50 per kg. Approximately, at what price per kg should he sell the remaining quantity to make 25% overall profit?a.Rs.56b.Rs.50c.Rs.60d.Rs.54
A man sold a horse at a loss of 42.84%. How much percent should he gain in the next transaction so as to make an overall gain of 21.42%, if the two horses are bought at the same price?
A shopkeeper sold an item at a profit of 25%. If the cost price was $200, what was the selling price?$250$220$300$275
A shopkeeper sells a bag at a gain of 25%. He offers a discount of 10% on the bag. What is his profit %? Options :12.5%25%23%none
A trader bought a consignment of potatoes and onions for Rs. 25,000. He sold the potatoes at a gain of 30% and the onions at a loss of 10%. If he gained 20% overall, how much did he pay for the potatoes?
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.