A grocer sells rice at a profit of 15% and uses weights that are 20% less than the market weights. The total profit earned by him will be:
Show answer & explanation
Correct answer: D
Explanation
The Correct answer is Option 2 i.e. 43.75%.
In both cases, he is earning profit.
1st case, Profit% = 15%
2nd case, Loss% = 20%
(S.P/C.P) = (115/100) × (100/80) = 23/16
So,
S.P = 23x and C.P = 16x
Profit = (23x - 16x) = 7x
Overall Profit% = (7x)/(16x) x 100 = 43.75%.