A cloth dealer professes a sell cotton at cost price but uses a meter having a length of 80 cm only ...........

Quantitative Aptitude ( CCS) Profit and loss

A cloth dealer professes a sell cotton at cost price, but uses a meter having a length of 80 cm only and charges for the meter. Find his gain per cent.

25%

30%

40%

None of these

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Explanation:

Let cost price of 1 cm be Rs.1
Cost Price of 1 meter is equal to cost price f 80 cm (as he measures wrongly) = Rs.80
Selling Price of 1 meter = Rs.100
Gain = 100 - 80 = 20
Percentage gain = 20/80×100 = 25%
There is a formula for this. If a trader sells his goods at cost price, but uses false measurements, gain % is
error×100/true value - error%
error = 1 meter - 80 cm = 20 cm
true value = 1 meter = 100 cm
Gain % = 20×100/100−20 = 20×100/80=25%