There is a growing demand of platinum in the Indian market. A firm dealing in platinum wants to earn a profit to the tune of Rs 5 lacs per annum. Platinum can be produced from a mine. It is required to employ 25 people whose average salary is Rs 2,000 per month. Cost of the raw material i.e., platinum ore is Rs 200 per ton of pure platinum produced. However, the fixed cost associated with the plant is Rs 1,00,000 annually.
If the production rate is 20 ton/month, then what should be the price per ton of platinum to earn the required profit?