Multiple choice

An oil merchant wants to make a minimum profit of Rs. 2,100 by selling 50 litres of oil he purchased at Rs. 236 per litre. For this, he adds a few litres of duplicate oil whose cost price is Rs. 180 per litre and sells at Rs. 250 per litre. How many litres of duplicate oil is needed for this purpose?

  1. 16 litres

  2. 18 litres

  3. 20 litres

  4. 22 litres

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Cost of 50L = 50 * 236 = 11800. Let x be liters of duplicate oil. Total cost = 11800 + 180x. Total quantity = 50 + x. Total revenue = 250 * (50 + x). Profit = Revenue - Cost = 250(50+x) - (11800 + 180x) = 12500 + 250x - 11800 - 180x = 700 + 70x. We want profit >= 2100. 700 + 70x = 2100. 70x = 1400. x = 20.