Mary bought 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 determine the selling price of 1 kg of the mixture, we need to calculate the total cost and the desired profit.
Let's break down the problem step by step:
1. Calculate the cost of maize:
Mary bought maize at $12 per kg, and the ratio of maize to beans is 4:3.
So, the cost of maize per kg is (4/7) * $12 = $6.86 (rounded to two decimal places).
2. Calculate the cost of beans:
Mary bought beans at $4 per kg, and the ratio of maize to beans is 4:3.
So, the cost of beans per kg is (3/7) * $4 = $1.71 (rounded to two decimal places).
3. Calculate the total cost per kg of the mixture:
The total cost per kg is the sum of the costs of maize and beans per kg, which is $6.86 + $1.71 = $8.57 (rounded to two decimal places).
4. Calculate the desired profit:
Mary wants to make a profit of 30% on the total cost. The profit is calculated as 30% of $8.57.
Profit = 30/100 * $8.57 = $2.57 (rounded to two decimal places).
5. Calculate the selling price per kg of the mixture:
The selling price per kg is the total cost per kg plus the desired profit per kg, which is $8.57 + $2.57 = $11.14 (rounded to two decimal places).
Therefore, the selling price of 1 kg of the mixture should be approximately $11.14.