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Mahesh sells a quintal of rice for 924 and earns a profit of 12%. By selling a quintal of wheat for the same amount, he lost 12%. Find CP of 1 kg of rice.

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8.25

10.50

9.25

3.20

answer is A.

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Detailed Solution

Given:-
Mahesh sells a quintal of rice and wheat for Rs 924.
He earns a profit of 12% on rice and a loss of 12% on wheat.

CP = \frac{100}{100 + P %} \times SP

\Rightarrow CP = \frac{100}{100 + 12} \times 924 \Rightarrow CP = \frac{100}{112} \times 924

∴ CP = 825
So, the cost price of a quintal of rice is Rs. 825.
Now, the cost of 1 kg of rice is,

\Rightarrow Cost of 1 kg of rice = \frac{825}{100}

⇒ Cost of 1 kg of rice =8.25
Hence, the cost price of 1 kg of rice is Rs. 8.25.

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