Mary bought maize and beans from a wholesaler. She then mixed the maize and beans ratio 4:3, she bought the maize as $12 per kg and the beans $4 per kg. if she was to make a profit of 30 %. What should be the selling of price 1 kg of the mixture?
To find the selling price of 1 kg of the mixture, we need to consider the cost of the maize and beans individually and also account for the desired profit of 30%.
Let's calculate the cost of the maize and beans:
Cost of maize = 4/7 * (total cost)
Cost of beans = 3/7 * (total cost)
Given that the cost of maize is $12 per kg and the cost of beans is $4 per kg, we can equate the costs to find the total cost:
4/7 * (total cost) * $12 + 3/7 * (total cost) * $4 = (total cost)
Simplifying the equation, we get:
48/7 * (total cost) + 12/7 * (total cost) = (total cost)
Rearranging the equation:
60/7 * (total cost) = (total cost)
To calculate the selling price, we need to add the desired profit of 30% to the total cost:
Selling price = Total cost + (30/100) * Total cost
Simplifying this equation, we get:
Selling price = Total cost + 0.3 * Total cost
Simplifying further:
Selling price = 1.3 * Total cost
Now, let's substitute the value of the total cost we derived earlier:
Selling price = 1.3 * (60/7 * (total cost))
Simplifying:
Selling price = 1.3 * (60/7) * (Total cost)
Therefore, the selling price of 1 kg of the mixture is 1.3 * (60/7) * (Total cost).