A vendor sells his goods using weights 19% less than true weights and makes a profit of 35%. His net gain percentage (rounded off to 2 decimal places) is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 66.67%.
Given,
The vendor uses weights that are 19% less than the true weight, meaning he gives only 81% of the expected weight.
According to the question;
The cost price of 1 kg be Rs 1.
Actual cost price because he gives only 0.81 kg
Actual cost price = 0.81 × 1 = Rs 0.81
Since he makes a profit of 35%,
Hence, the selling price = 1.35% of 1 = Rs 1.35
Profit = Selling price - cost price = 1.35 - 0.81 = Rs 0.54
Profit% = (0.54/0.81) × 100 = 66.67%