A shopkeeper sells his old stock at 25 percent loss on cost price, but uses 30 percent less weight. What is his percentage profit or loss (consider up to two decimals)?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Profit of 7.14 percent
Selling price of old stock = Cost price - 25% of cost price
Let the cost price for 1000 gram = Rs. 1000
Selling price of 1000 gram = 1000 - 1000(25/100) = Rs. 750
Due to false weighing -
New weight when old stock is weighed 30% less = 1000 - 1000(30/100) = 700 gm
Selling price of 700 gram = Rs. 750
Cost price of 700 gram = Rs. 700
Profit = Rs. 750 - 700 = Rs. 50
Profit% = [(50/700) × 100]% = 7.14%