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A spice merchant bought 18 kg of turmeric at ₹320 per kg and 28 kg of coriander at ₹260 per kg. He mixed them. Due to market conditions, he had to sell the mixture at ₹290 per kg. Calculate the loss or gain.
- Loss of ₹240
- Profit of ₹240
- Loss of ₹480
- Profit of ₹300
Correct answer: Profit of ₹300
Solution
The total cost is $18\times 320 + 28\times 260 = 5760 + 7280 = ₹13040$. Total quantity is 46 kg, so selling at ₹290 per kg gives ₹13340. Hence profit = ₹300.
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