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Answer :
Final answer:
To achieve a 40% overall profit, the person should sell the second type of rice at a price of 139.2857 Rs / kg.
Explanation:
To calculate the selling price for the second type of rice in order to achieve a 40% overall profit, we need to first calculate the cost price of the second type of rice. To calculate the cost price, we can use the formula:
Cost price = Selling price / (1 + Profit percentage)
Using this formula, the cost price of the second type of rice is: Cost price = 195 / (1 + 0.4) = 139.2857 Rs / kg
Therefore, in order to achieve a 40% overall profit, the person should sell the second type of rice at a price of 139.2857 Rs / kg.
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