A grocer purchased 50 kg of rice at ₹40 per kg and 20 kg of another variety of rice at ₹55 per kg. He mixed the two varieties and sold the entire mixture at ₹48 per kg. Find his total profit or loss in this transaction.

Correct option is C

​Given :

First variety:

Quantity = 50 kg

Cost price = ₹40 per kg

Second variety:

Quantity = 20 kg

Cost price = ₹55 per kg

Selling price of mixture = ₹48 per kg

Formula Used :

Total Cost Price
​$$\text{Total CP} = (q_1 \times cp_1) + (q_2 \times cp_2)$$​​

Total Selling Price
​$$\text{Total SP} = (\text{Total quantity}) \times (\text{SP per kg})$$​​

Profit or Loss = Total SP - Total CP

Solution :

Cost of first variety:
​$$50 \times 4$$​0 = ₹2000

Cost of second variety:
20 $$\times 55$$​= ₹1100

Total Cost Price:
2000 + 1100 = ₹3100

Total quantity
50 + 20 = 70 kg

Total Selling Price:
​$$70 \times 48 = ₹3360$$​​

Profit:
3360 - 3100 = ₹260
​