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A man buys some quantity of rice for Rs 4800. He sells one third of it at a profit of 10%. At what percent gain should he sell the remaining two-third so as to make an overall profit of 20% on the whole transaction?
  • a)
    10%
  • b)
    15%
  • c)
    20%
  • d)
    25%
  • e)
    None of these
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
A man buys some quantity of rice for Rs 4800. He sells one third of it...
(1/3)*4800*110/100 + (2/3)*4800*(x/100) = (120/100)*4800
x = 125 so he should sell the remaining at 25% profit
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Most Upvoted Answer
A man buys some quantity of rice for Rs 4800. He sells one third of it...
Given:
Cost price of rice = Rs 4800
Profit on selling one-third of rice = 10%
Overall profit required = 20%

To find:
At what percent gain should he sell the remaining two-third so as to make an overall profit of 20% on the whole transaction?

Solution:
Let's first calculate the selling price of one-third of rice.
Cost price of one-third of rice = 4800/3 = Rs 1600
Profit on selling one-third of rice = 10%
Profit = (10/100)*1600 = Rs 160
Selling price of one-third of rice = Cost price of one-third of rice + Profit
= 1600 + 160 = Rs 1760

Now, let's calculate the total cost price of rice.
As the man bought the entire quantity of rice for Rs 4800,
Cost price of entire rice = Rs 4800

Let the selling price of remaining two-third of rice be SP. We need to find the percent gain he should sell the remaining two-third so as to make an overall profit of 20%.

Total selling price of all the rice = Selling price of one-third of rice + Selling price of remaining two-third of rice
= 1760 + SP

Total profit required = 20%
Total profit = (20/100)*4800 = Rs 960

Using the formula for profit and loss, we can write:

Profit = Selling price - Cost price
960 = (1760 + SP) - 4800
SP = 6016

Profit on selling remaining two-third of rice = Selling price - Cost price
= 6016 - 3200 (as the cost price of remaining two-third of rice is 2/3 of the total cost price)
= Rs 2816

Percent gain on selling remaining two-third of rice = (Profit / Cost price) * 100
= (2816/3200) * 100
= 88%

Therefore, the man should sell the remaining two-third of rice at a percent gain of 88% to make an overall profit of 20%.
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Community Answer
A man buys some quantity of rice for Rs 4800. He sells one third of it...
(1/3)*4800*110/100 + (2/3)*4800*(x/100) = (120/100)*4800
x = 125 so he should sell the remaining at 25% profit
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A man buys some quantity of rice for Rs 4800. He sells one third of it at a profit of 10%. At what percent gain should he sell the remaining two-third so as to make an overall profit of 20% on the whole transaction?a)10%b)15%c)20%d)25%e)None of theseCorrect answer is option 'D'. Can you explain this answer?
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A man buys some quantity of rice for Rs 4800. He sells one third of it at a profit of 10%. At what percent gain should he sell the remaining two-third so as to make an overall profit of 20% on the whole transaction?a)10%b)15%c)20%d)25%e)None of theseCorrect answer is option 'D'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about A man buys some quantity of rice for Rs 4800. He sells one third of it at a profit of 10%. At what percent gain should he sell the remaining two-third so as to make an overall profit of 20% on the whole transaction?a)10%b)15%c)20%d)25%e)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A man buys some quantity of rice for Rs 4800. He sells one third of it at a profit of 10%. At what percent gain should he sell the remaining two-third so as to make an overall profit of 20% on the whole transaction?a)10%b)15%c)20%d)25%e)None of theseCorrect answer is option 'D'. Can you explain this answer?.
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