A shopkeeper claims to sell 450 kg rice at a cost price of ₹40 per kg but uses a weight of 900 grams instead of a one kilogram weight. He makes a profit of ₹2,520 by selling the remaining rice in the black market. The ratio of the black-market price to the original price per kg of rice is:

Question

Question

This question was previously asked in

SSC Selection Post 2024 (Higher Secondary Level) Official Paper (Held On: 25 Jun, 2024 Shift 2)

Answer 1

Given:

Cost price per kg = ₹40

Weight used = 900 grams (instead of 1 kg)

Total rice claimed to be sold = 450 kg

Profit made in the black market = ₹2,520

Formula used:

Weight actually sold = (Weight used/1000) × Total rice claimed to be sold

Remaining rice = Total rice - Weight actually sold

Black market price per kg = (Profit / Remaining rice)

Calculation:

Weight actually sold = (900/1000) × 450 = 0.9 × 450 = 405 kg

Remaining rice = 450 - 405 = 45 kg

Black market price per kg = Profit / Remaining rice = 2520 / 45

⇒ Black market price per kg = ₹56

Now, the ratio of the black-market price to the original price:

⇒ Ratio = 56 / 40 = 7 / 5

∴ The correct ratio of the black-market price to the original price is 7:5.