A shopkeeper marks up his goods by 30% and then gives a discount of 10% on the marked price. Apart from this, he uses a faulty balance which reads 1 kg for 870 g. What is his net profit percentage?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 34.48%
Let cost price = 1000c per kg
Market price = × 1000c
= 1300c
Selling price = × 1300c
= 1170c
As he is selling 870g instead of 1kg , so his actual Cost is 870c
Profit = 1170c - 870c = 300c
Profit % = 300c × 100/870c = 34.48%