A dishonest shopkeeper claims to sell his articles at the cost price but uses 950 g instead of one kilogram. What is his profit (rounded off to 1 decimal place) percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 I.e. 5.3%.
Let CP for 1 g = 1
CP for 950g = 950
SP for 950g = 1000
Profit = 1000 - 950 = 50
Profit percentage = (50/950) × 100 ≈ 5.3%