A shopkeeper uses 940 gm weight in place of one kg weight. He sells it at 4% profit. What will be the actual profit percentage? (rounded off to two decimal places)
This questions was previously asked in
ssc cgl 2023 pre
Explanation:
- The shopkeeper uses a 940 gm weight instead of the standard 1 kg (1000 gm). This means he delivers less than a kilogram to customers.
- When he claims to sell 1 kg, he actually sells only 940 gm.
- There's a deceptive gain because he charges for 60 gm extra that isn't delivered.
- Stated profit is 4%, but this is based on the perceived cost, which is less due to the weight discrepancy.
- To find the actual profit:
- Calculate the percentage based on the real cost (940 gm as opposed to 1 kg).
- Use this formula: \((\frac{{1000 \text{ gm (claimed weight)}}}{940 \text{ gm (actual weight)}}) \times (1 + 0.04) - 1\).
- Solving gives an actual profit of approximately 10.64%.
- Correct Answer: Option 3 - 10.64%
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By: Parvesh Mehta