A shopkeeper buys two types of tea one at $20 for 10 kg and the other at $23 for 10 kg. He mixes the two types and the mixture is sold at $38 for 10 kg. What will be his percentage profit?
Let us take the case of first type of tea Cost of 10 kg of tea one = $20 Then Cost of 1 kg of tea one = (20/10) dollars = 2 dollars Now let us take the case of the second kind of tea Cost of 10 kg of tea = $23 Then Cost of 1 kg of tea = (23/10) dollars = 2.3 dollars So The mixture of 1 kg of tea one and 1 kg of second type of tea will cost = (2.0 + 2.3) dollars = 4.3 dollars Then the cost of 2kg mixture of tea costs = 4.3 dollars So The cost of 10 kg mixture will cost = (4.3/2) * 10 dollars = 4.3 * 5 dollars = 21.5 dollars Then The amount of profit made by selling 10 kg tea at $38 = (38 - 21.5) dollars = 16.5 dollars So Percentage of profit made = (16.5/21.5) * 100 = 1650/21.5 = 76.74 percent So the percentage of profit made is 76.74%.
