A dealer professing to sell his goods at a cost price uses 950 grams of weight for 1 kg. His gain percentage is: (rounded off to two decimal places)
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 5.26%
Given that
A dealer professing to sell his goods at cost price uses 950 grams weight for 1 kg
Let the cost price of 1000 grams weight = Rs. 1000
so, the cost price of 950 grams weight = Rs. 950
the selling price of 950 grams weight = Rs. 1000
According to the question
Profit % = [(1000 - 950)/950] × 100 = 5.26%