Question
Download Solution PDFA dishonest dealer claimed he sells rice at a loss of 5%, but he used faulty weights and weighs 20% less rice. Calculate his overall loss or gain%.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFConcept used:
Profit % = {(Selling Price – Cost Price)/Cost Price} × 100
Solutions:
Suppose the salesman sells 1 kg of rice and cost of 1 kg rice is Rs. 100
Dealer claimed he sold the rice at 5% loss
Selling Price of the rice = 100 × (95/100) = Rs. 95
Dealer uses a faulty weight and weighs 20% less
Cost price of the rice = 100 × (80/100) = Rs. 80
Profit % = {(Selling Price – Cost Price)/Cost Price} × 100
⇒ Profit % = {(95 – 80)/80} × 100
⇒ Profit % = (15/80) × 100 = 75/4 = 18.75%
∴ Profit earned by dealer is 18.75%Last updated on Jul 14, 2025
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