A shopkeeper sells oil at ₹200 per litre, which he purchased for ₹160 per litre, but he gives only 800 ml of oil instead of 1 litre while selling. Find the actual percentage of profit.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 56.25%.
The price of oil = ₹160 per litre
He gives only 800 ml of oil instead of 1 litre while selling
So, the cost price of 800 ml = 160/1000 × 800 = 128
The selling price of oil = ₹200 per litre
So, actual profit percentage = (200 - 128)/128 × 100 = 56.25%