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A merchant bought 50 kg of rice at $2 per kg and sold it at $2.50 per kg. What i

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Question: A merchant bought 50 kg of rice at $2 per kg and sold it at $2.50 per kg. What is the total profit?

Options:

  1. $25
  2. $30
  3. $20
  4. $15

Correct Answer: $25

Solution: 

Cost Price = 50 * 2 = 100. Selling Price = 50 * 2.5 = 125. Profit = Selling Price - Cost Price = 125 - 100 = 25.

A merchant bought 50 kg of rice at $2 per kg and sold it at $2.50 per kg. What i

Practice Questions

Q1
A merchant bought 50 kg of rice at $2 per kg and sold it at $2.50 per kg. What is the total profit?
  1. $25
  2. $30
  3. $20
  4. $15

Questions & Step-by-Step Solutions

A merchant bought 50 kg of rice at $2 per kg and sold it at $2.50 per kg. What is the total profit?
  • Step 1: Calculate the total cost price of the rice. Multiply the quantity of rice (50 kg) by the cost per kg ($2). This gives you 50 * 2 = $100.
  • Step 2: Calculate the total selling price of the rice. Multiply the quantity of rice (50 kg) by the selling price per kg ($2.50). This gives you 50 * 2.5 = $125.
  • Step 3: Calculate the profit by subtracting the total cost price from the total selling price. This gives you $125 - $100 = $25.
  • Cost Price and Selling Price – Understanding the difference between the cost price (CP) and selling price (SP) is essential for calculating profit.
  • Profit Calculation – Profit is calculated by subtracting the cost price from the selling price.
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