A shopkeeper cheats 25% in weight while buying rice and cheats 25% while selling it. If he sells the rice at profit, then find his net
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 87.5%.
Let the shopkeeper pay for 100 units of rice, but receive 125 units, and CP per unit = 1
CP of the shopkeeper per actual unit = 100/125 = 0.80
Selling price for these 100 units = 112.50
He sells what the customer perceives as 100 units, but he gives only 75 units
The actual cost for the 75 units = 75 × 0.80 = 60
Actual profit = 112.50 - 60 = 52.50
Profit percentage = (52.50/60) × 100 = 87.5%