A dishonest shopkeeper sells sugar at a rate of Rs. 45 per kg. The cost price of the sugar is Rs. 40 per kg. Even after doing this, he tries to increase his profit by removing 100 gm from each packet of 1 kg. What is the gain percent of the shopkeeper?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 25%.
Profit% = [(SP - CP)/CP] × 100
Selling price = Rs 45
Cost price of 1 kg sugar = Rs 40
Cost price of 900 gm sugar = 40 × 0.9 = 36
Profit = Selling price - Cost price = 45 - 36 = 9
Profit% = (9/36) × 100 = 25%