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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? A) 1:10 B) 1:5 C) 2:7 D) 3:8 E) NONE
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Answer: B

1) 20% profit at the price of 7 cents means that cost of the mixture should be 70/12 cents per ounce (7 =

120% and x = 100% => x = 7*100/120)

2) Let the amount of 5 cent rice will be x and the amount of 6 cent one – y. The price of ounce of mixture will

be: (5x + 6y)/(x + y), which as we know should equal to 70/12

3) (5x + 6y)/(x + y) = 70/12 => x/y = 1/5
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