WBCS.LIVE practice question

A shopkeeper mixes 30kg of rice bought at Rs. 30/kg and 40kg of rice bought at Rs. 28/kg and sells the entire core of the mixture so prepared at the rate of Rs. 28/kg. Find the percentage profit or loss (rounded off to the nearest integer)

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Loss 6%
  2. Profit 7%
  3. Loss 3%
  4. Profit 5%

Correct answer and explanation

Correct answer: Loss 3%