A shopkeeper sells his goods using weights 27% less than true weights and claims to sell his goods at the cost price. His gain percent (rounded off to 1 decimal place) is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 37.0.
Let the cost price(CP) be 100 gram
The shopkeeper uses weights 27% less
Actual weight = 100 - 27 = 73 gram
He claims to sell at a cost price
CP of 73 gram = 100/100 × 73 = Rs.73
Now,
Profit = SP - CP
⇒ 100 - 73 = Rs.27
Pofit% = 27/73 × 100 = 36.98 or 37%