A trader takes 26 kg of jasmine rice, which sells at $20 per kg, and mixes it with 30 kg of long grained rice, which sells at $36 per kg.
If he sells the mixture at $30 per kg, what is his percentage profit?
His cost is: 26 kg x $20.00 / kg + 30 kg x $36.00 / kg = $1600.00
He creates: 26 kg + 30 kg = 56 kg.
His income: 56 kg x $30.00 / kg = $1680.00
His profit: $1680.00 - $1600.00 = $80.00
His percentage profit: $80.00 / $1600.00 = 0.05 = 5%
