Joseph bought two varieties of rice, costing 5 cents per ounce and 6 cents per ounce each, and mixed them in some ratio. Then he sold the mixture at 7 cents per ounce,making a profit of 20 percent. What was the ratio of the mixture? Select the correct option: A) 1:10 B) 1:5 C) 2:7 D) 3:8 E) 5:7
Let x ounce of ist be mixed with y ounce of 2nd   thus total CP = 5x+6y   Sly SP = 7x+7y   Now profit % = 20, its very easy to solve profit n loss problems using Fraction rule.   SP = CP * 120/100 ( since profit so SP &gt;CP n hence multiplied by 120/100 which is &gt; 1   thus 7x+ 7y= (5x+6y) * 120/100   or, x:y = 1:5   ANSWER:1:5
<result>B</result>
Joseph bought two varieties of rice, costing 5 cents per ounce and 6 cents per ounce each, and mixed them in some ratio. Then he sold the mixture at 7 cents per ounce,making a profit of 20 percent. What was the ratio of the mixture?