Question
Download Solution PDFA dishonest dealer professes to sell his goods at cost price but uses a false weight of 950 grams instead of 1 kilogram. His gain percentage is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A dishonest dealer uses a false weight of 950 grams instead of 1 kilogram (1000 grams) and claims to sell at cost price.
Formula Used:
Gain Percentage, G% = ((True weight - False weight) / False weight) × 100
Calculation:
True weight = 1000 grams
False weight = 950 grams
Gain = True weight - False weight
Gain = 1000 - 950 = 50 grams
G% = (50 / 950) × 100
G% = (50 × 100) / 950
G% = 5000 / 950 = 100/19
G% = 5\(\frac{5}{19}\)%
The gain percentage is 5\(\frac{5}{19}\) %.
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