A trader has a weighing balance that shows 1300 g for a kg. He further marks up his cost price by 15%. The net profit percentage is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 49.5%.
Concept used:
Selling price = CP × (Increase marked up %) × fake weight/true weight ----- (1)
Calculations:
Let the CP be 100.
Increased marked up% = 15%
Fake weight = 1300 g
True weight = 1000 g
Using equation (1), we get
⇒ Selling price = 100 × 115% × 1300/1000
⇒ Selling price = 149.5
Profit % = (49.5/100) × 100 = 49.5%