Given: A person buys Rice for ₹ 6400
He sells one-fourth rice at a profit of 12%
Formula Used: Selling Price = Cost Price + Profit
Calculation: Total Cost Price of Rice = ₹ 6400
Then, total Selling Price = Cost Price + Profit = ₹ 6400 + ₹ 11% of 6400
⇒ ₹ (6400 + 704)
⇒ ₹ 7104
Cost Price of
of given Rice = 6400/4 = ₹ 1600
Selling Price of
of given Rice = ₹ 112% of 1600 = ₹ 1792
Cost Price of rest
of given Rice = ₹ (6400 – 1600) = ₹ 4800
Selling Price of rest
of given Rice = ₹ (7104 – 1792) = ₹ 5312
So, % profit
=×100 ⇒×100 ⇒×100 ⇒ ⇒ 10.67%
∴ Required gain percentage is 10.67%.