An authorised rice dealer purchases rice at ₹32 per kg and sells it at ₹40 per kg. But while selling, he is giving only 900 grams instead of 1 kg. Find the actual profit percentage of the dealer (Correct to one decimal place)
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 38.9%
Cost Price of rice = Rs 32
Selling Price of rice = Rs 40
Profit % = Profit(100)/CP
The dealer sells 900 grams of rice instead of 1 kg.
The cost price of 900 grams = 900(32)/1000 = Rs. 28.8
The selling price of 900 grams will be equal to the selling price of 1 kg.
The selling price of 900 grams = Rs 40
Profit = SP - CP = 40 - 28.8 = Rs 11.2
Profit % = 11.2(100)/28.8 = 38.9%