A dealer bought 5 quintals of rice for Rs.19 per kg paid Rs.500 on transportation.if he had sold the rice at the rate of Rs.20.50 per kg,find his profit?
1 quintals =48.95 Kg
Therefore, 5 quintals =244.75 kg
for 1 kg dealer paid 19 Rs.
for 244.75 kg dealer paid 19*244.75= 4650.25 RS
Dealer paid 500 for transportation so this is also a cost that includes with 4650.25 +500 Rs
which is 5150.25 Rs
Dealer sold 20.50 per kg
so for 244.75 kg he sold 20.50*244.75=5017.375 Rs
Profit = Cost-Sells
=5017.375-5150.25
=-132.875
which means the dealer did not make any profit. Other word the dealer lost 132.875 Rs in this business.
To find the dealer's profit, we need to calculate the total cost and total selling price.
First, let's calculate the total cost of the rice.
The dealer bought 5 quintals of rice, which is equal to 5 * 100 = 500 kg.
The cost per kg of rice is Rs. 19.
So, the total cost of the rice is 500 kg * Rs. 19/kg = Rs. 9,500.
Next, let's consider the transportation cost, which is Rs. 500.
Therefore, the total cost for the dealer is Rs. 9,500 (rice cost) + Rs. 500 (transportation cost) = Rs. 10,000.
Now, let's calculate the total selling price.
The selling price of 1 kg of rice is Rs. 20.50.
So, the total selling price of 500 kg of rice is 500 kg * Rs. 20.50/kg = Rs. 10,250.
To find the profit, we subtract the total cost from the total selling price.
Profit = Total Selling Price - Total Cost
= Rs. 10,250 - Rs. 10,000
= Rs. 250.
Therefore, the dealer's profit is Rs. 250.