Question
Download Solution PDFA shopkeeper sells oil at ₹200 per litre, which he purchased for ₹160 per litre, but he gives only 800 ml of oil instead of 1 litre while selling. Find the actual percentage of profit.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven
The selling price of oil: ₹200 per litre
Purchase price: ₹160 per litre
Quantity of oil given: 800 ml
Concept Used:
Profit percentage = (Selling price - Cost price) / Cost price × 100
Solution
Here, the shopkeeper claims to sell the oil at ₹200 per litre, but in reality, he is only providing 800 ml of oil.
Therefore, his effective selling price is actually ₹250 per litre (since ₹200 for 800 ml implies ₹250 for 1000 ml or 1 litre).
So, the profit per litre of oil sold is ₹250 - ₹160 = ₹90.
Therefore, the profit percentage is (₹90 / ₹160) × 100 = 56.25%.
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