A shopkeeper sells sugar at ₹40 per kg, which he purchased at ₹36 per kg. His weighing machine is faulty and it weighs only 800 gm while selling. His percentage profit (correct to 2 decimal places) is:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 38.89%.
Selling price of 1000 gm = Selling price of 800 gm = Rs. 40
The cost price of 1000 gm = Rs. 36
The cost price of 800 gm = Rs. (36 × 800)/1000 = Rs. 28.8
So,
For 800 gm profit = Rs. (40 - 28.8) = Rs. 11.2
Profit% = (11.2/28.8) × 100 = 38.89%