Question
Download Solution PDFA shopkeeper uses 940 gm weight in place of one kg weight. He sells it at 4% profit. What will be the actual profit percentage? (rounded off to two decimal places)
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A dishonest shopkeeper used 940 grams in place of 1000 grams
Challenge profit = 4%
Calculation:
Let the cost price of 1 gram be 1 rupee
For shopkeeper,
⇒ Cost price = Rs. 940
⇒ Selling price = 1000 × (100 + 4)% = Rs. 1040
⇒ The real profit of dishonest shopkeeper = [(1040 - 940)/940] × 100
⇒ The real profit of a dishonest shopkeeper = (100/940) × 100
⇒ The real profit of a dishonest shopkeeper = 10.64%
∴ The real profit of a dishonest shopkeeper is 10.64
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