A trader marks his goods at 20% higher than the cost price. Further, he uses a weighing balance which shows 1200 grams for a kilogram. What is his profit percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 44%.
Let the cost price of 1 kg = ₹100
Marked price = ₹100 + 20% of ₹100 = ₹120
He gives only 1000 g × = 833.33 g per kg
Actual cost of 833.33 g = × ₹100 = ₹83.33
Profit = ₹120 − ₹83.33 = ₹36.67
Profit % = × 100 ≈ 44%