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Ram buys rice from a whole sale dealer at Rs. 100 per Kg and sells it to his customers. While purchasing the rice, he noticed that the wholesaler was cheating him and was using a scale that showed 10% more weight than it was weighing. Instead of fighting with the wholesaler, he decided to markup his selling price in such a way that he earns a profit of 10%. What should the selling price (per Kg) be if Ram uses an accurate scale while selling to his customers?
  • a)
    Rs. 120
  • b)
    Rs. 121
  • c)
    Rs. 144
  • d)
    Rs. 110
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Ram buys rice from a whole sale dealer at Rs. 100 per Kg and sells it ...
If he puts 1 kg of rice, the scale will show 1.1kg. Thus Ram has to pay Rs 110/kg
Now he intends to make a profit of 10% by selling this. 
Total amount he should get back = Rs 1.1 × 110 = Rs121121.
Thus by selling 1 kg rice he is getting Rs 121
The rate at which he sells = Rs121/kg
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Most Upvoted Answer
Ram buys rice from a whole sale dealer at Rs. 100 per Kg and sells it ...
Given:
- Cost price of rice = Rs. 100 per kg
- Wholesaler is cheating Ram by showing 10% more weight than it actually is

To find:
- Selling price per kg if Ram uses an accurate scale while selling to his customers

Solution:
1. Cost price per kg:
- Ram buys rice from the wholesaler at Rs. 100 per kg.

2. Markup percentage:
- Ram wants to earn a profit of 10% on his cost price.
- So, the markup percentage will be 10%.

3. Markup amount:
- Markup amount = Markup percentage * Cost price
- Markup amount = 10/100 * 100 = Rs. 10 per kg

4. Selling price per kg:
- Selling price per kg = Cost price per kg + Markup amount
- Selling price per kg = Rs. 100 per kg + Rs. 10 per kg = Rs. 110 per kg

5. Adjusting for cheating:
- The wholesaler is cheating Ram by showing 10% more weight than it actually is.
- To counter this cheating, Ram should increase the selling price by 10%.

6. Adjusted selling price per kg:
- Adjusted selling price per kg = Selling price per kg + (10/100 * Selling price per kg)
- Adjusted selling price per kg = Rs. 110 per kg + (10/100 * Rs. 110 per kg)
- Adjusted selling price per kg = Rs. 121 per kg

Therefore, the selling price per kg should be Rs. 121 if Ram uses an accurate scale while selling to his customers. Hence, option B is the correct answer.
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Ram buys rice from a whole sale dealer at Rs. 100 per Kg and sells it to his customers. While purchasing the rice, he noticed that the wholesaler was cheating him and was using a scale that showed 10% more weight than it was weighing. Instead of fighting with the wholesaler, he decided to markup his selling price in such a way that he earns a profit of 10%. What should the selling price (per Kg) be if Ram uses an accurate scale while selling to his customers?a)Rs. 120b)Rs. 121c)Rs. 144d)Rs. 110Correct answer is option 'B'. Can you explain this answer?
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Ram buys rice from a whole sale dealer at Rs. 100 per Kg and sells it to his customers. While purchasing the rice, he noticed that the wholesaler was cheating him and was using a scale that showed 10% more weight than it was weighing. Instead of fighting with the wholesaler, he decided to markup his selling price in such a way that he earns a profit of 10%. What should the selling price (per Kg) be if Ram uses an accurate scale while selling to his customers?a)Rs. 120b)Rs. 121c)Rs. 144d)Rs. 110Correct answer is option 'B'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Ram buys rice from a whole sale dealer at Rs. 100 per Kg and sells it to his customers. While purchasing the rice, he noticed that the wholesaler was cheating him and was using a scale that showed 10% more weight than it was weighing. Instead of fighting with the wholesaler, he decided to markup his selling price in such a way that he earns a profit of 10%. What should the selling price (per Kg) be if Ram uses an accurate scale while selling to his customers?a)Rs. 120b)Rs. 121c)Rs. 144d)Rs. 110Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram buys rice from a whole sale dealer at Rs. 100 per Kg and sells it to his customers. While purchasing the rice, he noticed that the wholesaler was cheating him and was using a scale that showed 10% more weight than it was weighing. Instead of fighting with the wholesaler, he decided to markup his selling price in such a way that he earns a profit of 10%. What should the selling price (per Kg) be if Ram uses an accurate scale while selling to his customers?a)Rs. 120b)Rs. 121c)Rs. 144d)Rs. 110Correct answer is option 'B'. Can you explain this answer?.
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