The cost price of 1 kg of sugar is Rs.50. A shopkeeper sells it at Rs.55 per kg. In order to raise his profit, the shopkeeper weighs only 900 grams in place of 1 kg. Determine the percentage profit (Approximate) earned by the shopkeeper.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. 22%
Calculations:
CP of 1 kg sugar = Rs 50
Selling price of 1 kg sugar = Rs 55
The shopkeeper sold only 900 gm, CP of 900 gm sugar = Rs 45
⇒ Profit = SP - CP
⇒ Profit = 55 - 45 = 10
⇒ Profit% = (Profit/CP) × 100
⇒ Profit% = (10/45) × 100
⇒ 22.22% or 22% (Approximately)