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| Math Central | Quandaries & Queries |
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Question from Hemantee, a parent: A fishmonger bought 150kg of fish. he sold 70% of it at the price of Rs90 per kg and the rest at Rs 75 per kg. he made a profit of 42.5 per cent. how much did he pay for the fish. |
Hemantee,
Suppose that the fish was sold to him at Rsx per kg then the total cost was
cost = 150 × Rsx
He sold 70% of the 150kg for Rs90 per kg so his revenue was
revenue = 0.70 × 150 kg × Rs90/kg
Hence his profit in Rs was
revenue - cost.
Profit as a percentage is usually expressed as a percentage of revenue and thus if his profit is 42.5% of his revenue then
[(revenue - cost)/revenue] × 100 = 42.5.
Solve for x.
Penny
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