A shopkeeper purchased groundnuts at ₹64/kg and sells at ₹80/kg. While selling, he uses faulty weights and gives 800 g instead of 1 kg. Find his actual profit percentage.
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Correct answer: D
Explanation
The correct answer is option 4 i.e. 56.25%.
Profit per kg = 80 - 64 = 16
Revenue received = 80 (for 1 kg)
Actual quantity sold = 800 g = 0.8 kg
Actual cost of the groundnuts sold = 0.8 × 64 = 51.20
Actual Profit = 80 - 51.20 = 28.80
Actual Profit Percentage = (28.80/51.20) × 100 = 56.25%