Question
Download Solution PDFA shopkeeper professes to sell his goods at the cost price, but he uses false weights with which he cheats by 10% while buying and by 15% while selling. His overall percentage of profit or loss is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Shopkeeper cheats 10% while buying ⇒ gets 1.1 kg instead of 1 kg
Shopkeeper cheats 15% while selling ⇒ gives only 0.85 kg instead of 1 kg
Formula used:
Profit% = (SP - CP) / CP × 100
Calculation:
Let CP of 1.1 kg = ₹100
⇒ CP of 1 kg = 100 ÷ 1.1 = 90.91
He sells 0.85 kg for ₹100
⇒ SP of 1 kg = 100 ÷ 0.85 = 117.65
⇒ Profit = 117.65 - 90.91 = 26.74
⇒ Profit% = 26.74 ÷ 90.91 × 100 = 29.41%
∴ The correct answer is 29.41%
Last updated on Dec 9, 2024
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