A trader gets a profit of 30 on buying a kg of wheat By mistake he sold 1200 grams of wheat at the p...........

Quantitative Aptitude ( CCS) Profit and loss

A trader gets a profit of 30% on buying a kg of wheat. By mistake, he sold 1200 grams of wheat at the price of 1 kg. Find his net profit/loss%.

25/3% profit

55/3% profit

30/11% loss

125/3% loss

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Explanation:

Solution:
He sold 1200 grams of wheat at the price of 1 kg, means he incurs a loss here.
That loss% = (1200-1000)/1200 * 100 = 50/3%
Now there was a profit of 30% while buying and now a loss of 50/3% while selling. So successive method can be used here:
Profit/loss% = 30 + (-50/3) + (30)(-50/3)/100 = + 25/3%

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