Question
Download Solution PDFA dishonest shopkeeper sells goods at cost price but uses 900 grams in place of 1 kg weight. What is his actual profit percent?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A dishonest shopkeeper sells goods at cost price but uses 900 grams in place of 1 kg weight.
Concept:
Profit % = (Profit / CP) × 100%
Calculation:
Let the cost price of 1 kg of goods be Rs. 1000.
the shopkeeper uses 900 grams instead of 1 kg.
So, the customer receives only 900 grams of goods for 1000 rupees.
Cost price of 900 grams = (900 / 1000) × 1000 = 900 rupees.
Now, profit = Selling Price - Cost Price of 900 grams
Profit = 1000 - 900 = 100 rupees.
Profit % = (100 / 900) × 100% = (1 / 9) × 100% ≈ \(11\frac{1}{11}\%\)%
Hence, the actual profit percent for the shopkeeper is \(11\frac{1}{11}\%\)
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