A grocer purchased 80 kg of rice at 13.50 per kg and mixed it with 120 kg of rice at 16 per kg. To achieve a 16% profit margin, the grocer must first calculate the total cost of the rice mixture and then determine the selling price per kg. The total cost of the rice is 1,080 (80 kg * 13.50) + 1,920 (120 kg * 16), which equals 3,000. To gain a 16% profit, the selling price must be set at 3,480, resulting in a selling price of 29 per kg for the 120 kg mixture.
PREREQUISITESRetail managers, grocery store owners, and anyone involved in pricing strategies and profit margin calculations in the food industry.
Hi again neha1,neha1 said:a grocesser purchased 80 kg of rice at the rate of 13.50 per kg and mixed it with 120 kg rice at the amount of 16 per kg.at what rate per kg should he sell the mixture to gain 16%
Neither am I, but I would imagine that you are expected to derive expressions for each individual case rather than remembering specific formulae.neha1 said:am not aware of this cost price and selling price equations