A shopkeeper uses 940 gm of weight in place of one kg of weight. He sells it at 4% profit. What will the actual profit percentage be? (rounded off to two decimal places)
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. 10.64%
Given that
A shopkeeper uses 940 gm of weight in place of one kg of weight.
Profit % = 4%
Let C.P. of 1000 gram be 1000 units
C.P. of 940 gm will be 940 units
S.P. = 1000 × (104/100) = 1040 units
According to the question
⇒ Actual profit% = [(1040 - 940)/940] × 100
⇒ Actual profit% = 10000/940 = 10.64%