A dishonest dealer sells a product at 11% loss on cost price, but uses 22% less weight. What is his percentage profit or loss?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e.14.1% gain.
Given:
Loss %, a = 11%
Less weight, b = 22%
Concept Used:
Profit/Loss % = {(b + a)/(100 - b)} × 100
Explanation:
Putting the given values in the formula, we get
Profit/Loss % = {(22 - 11)/78} × 100
⇒ Profit/Loss % = (11/78) × 100
⇒ Profit/Loss % = 14.1 > 0
Hence his percentage profit is 14.1%