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The buying price of a 90 kg bag of maize was 1500 the trader paid 2,500 per trip to transport the maize to the market he sold the maize and made a profit of 26% but let the same price of each bag ?
The buying price of a 90 kg bag of maize was 1500 the trader paid 2,500 per trip to transport the maize to the market he sold the maize and made a profit of 26% but let the same price of each bag ?
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Jul 2
The trader bought the 90 kg bag of maize for 1500 and paid 2500 per trip to transport it to the market.
Total cost = 1500 + 2500 = 4000
The trader sold the maize at a profit of 26%, which means the selling price was 126% of the cost price.
Selling price = 1.26 * 4000 = 5040
Since the trader sold the maize at the same price per bag, the selling price of each bag would be:
5040 / 90 = 56
Therefore, the trader sold each bag of maize for 56.
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Google Gemini AI
Jul 2
Step 1: Calculate the total purchase cost
Cost of 1 bag of maize = 1500 Cost of 90 bags = 1500 x 90 = 135,000
Step 2: Calculate the total transportation cost
Cost per trip = 2500 Number of trips to transport 90 bags (90/5) = 18 Total transportation cost = 2500 x 18 = 45,000
Step 3: Calculate the total cost price
Total cost price = Purchase cost + Transportation cost Total cost price = 135,000 + 45,000 = 180,000
Step 4: Calculate the profit margin
Profit margin = 26% Profit = Profit margin x Total cost price Profit = 0.26 x 180,000 = 46,800