Multiple choice

Passage

Directions: Read the following passage and answer the question. An Agrotech company in Punjab has its branches there all over in India, produces 5 different types of farm products such as T, I, F, A and N. Total production of the company for the financial year 2018-2019 is 5,000 tonnes and total profit earned from all the five products is Rs. 140 million. Further, individual data for each type of product was analyzed and it has been found that out of the total production, the percentage for product T is 15% and 12% of the total profit is earned from product T. Product I is 25% of the total production, however, 23% of the total profit is earned from it. Product F and A are 28% and 12% of the total production respectively. The profit earned from product F is 35% of the total profit earned and the profit earned from product A is 10% of the total profit. An amount earned as profit from product N accumulates to 20% of the total profit, however product N is just 20% of the total production.

If the cost price of one kg of product T is Rs. 30, then what would be its selling price rounded to nearest whole number?

  1. Rs. 52

  2. Rs. 55

  3. Rs. 57

  4. Rs. 59

  5. NA
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A Correct answer
Explanation

Total production = 5000 tonnes. Product T = 15% of 5000 = 750 tonnes = 750,000 kg. Total profit = 140 million. Profit from T = 12% of 140 million = 16.8 million. Profit per kg = 16,800,000 / 750,000 = 22.4. Selling price = Cost price + Profit = 30 + 22.4 = 52.4. Rounded, this is 52.

AI explanation

The total production of product T is 15% of 5,000 tonnes, equaling 750,000 kg. The total profit earned from product T is 12% of Rs. 140 million, amounting to Rs. 16.8 million, or Rs. 16,800,000. To find the profit per kg, divide the total profit by the total quantity: 16,800,000 / 750,000 = Rs. 22.40. Adding this profit per kg to the given cost price of Rs. 30 yields a selling price of 30 + 22.40 = Rs. 52.40. The correct rounded value to the nearest whole number is Rs. 52.

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