A dishonest dealer sells his goods at 20% loss on the cost price but uses a faulty weight that weighs 25% less. His profit or loss percentage (rounded off to 2 decimal places) is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 6.67%, profit.
Given that
Goods are sold at 20% loss and using faulty weight that weighs 25% less
Profit % = (Selling price- Cost price)/Cost price× 100
The ratio of S.P : C.P = × =
Hence the percentage of profit = × 100 = 6.67%