A dealer professes to sell his goods at a loss of 16%, but weights 750 gm in place of a kg weight. Find his total profit percentage.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 12 Percent
The dealer professes to sell his goods at a loss of 16%.
He uses a 750 gm weight in place of a 1 kg weight.
Profit/Loss% = [(Profit/Loss)/Cost Price] × 100
Let the cost price of 1 kg of goods be Rs. 1000
The dealer sells the goods at a loss of 16%.
The selling price = 1000(84)/100 = Rs. 840
However, he uses a 750 gm weight in place of a 1 kg weight, so he actually sells 750 gm of goods for Rs. 840.
The cost price of 750 gm of goods = Rs. 750
The dealer's profit is Rs. 90
The dealer's profit percentage = (90/750) × 100 = 12%