Question
Download Solution PDFA trader has a weighing balance that shows 1300 g for a kg. He further marks up his cost price by 15%. The net profit percentage is :
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A trader has a weighing balance that shows 1300 g for a kg.
He further marks up his cost price by 15%.
Calculation:
Let the cost price per gm be Rs. 1
So, cost price of 1300 gm = Rs. 1300
Marked price of 1300 gm = 1300 × 115% = Rs. 1495
Now, the trader gives 1000 g instead of 1300 gm
So, his profit = 1495 - 1000 [As cost price of 1000 g is Rs. 1000]
⇒ 495
Profit% = (495/1000) × 100 = 49.5
∴ The net profit percentage is 49.5%.
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