A dishonest shopkeeper claims to sell rice at the cost price of ₹95 per kg, but the weight he uses has 1 kg written on it, while it actually weighs 950 grams. The profit he thus earns on selling rice having an actual weight of 95 kg is:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. ₹475.
Actual weight given per kg = 950 grams
Profit per kg = ₹95 − ( × 95) = ₹95 − ₹90.25 = ₹4.75
Total such kgs in 95 kg = = 100
Total profit = 100 × ₹4.75 = ₹475