Question
Download Solution PDFA businessman cheats by using faulty weights, to the tune of 12% each time, when buying and selling material. What is the rise in his profit percentage using faulty weights only?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A shopkeeper cheats while buying as well as selling = 12%
Formula Used:
Profit% = a + b + (a × b)/100
Calculation:
Profit% = 12 + 12 + (12 × 12)/100 = 25.44
∴ The shopkeeper earned 25.44% profit.
Additional Information
This question is from one of the official papers of SSC.
According to SSC's approach, the correct answer is 25.44%, as it follows the method of successive profit.
It's crucial to understand that there are various methods to solve such questions and these methods can differ based on the exam board. For example, IBPS and other banking boards might yield an answer of 27.27% for a similar problem, but in this case, as we're considering the SSC exam, we don't take that into account, especially when it's not among the given options.
Last updated on Jul 12, 2025
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