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The cost price and selling price of rice are the same. Due to a faulty weighing machine, the seller earns a 15% profit, If Rs. X is the cost price of 1000 gm rice and the machine is changed which shows 1000 gm instead of 950 gm, what should be the selling price (‘in Rs) now to get the same percentage of profit?
1.0295 x
1.0259x
10.0925x
10.0950x
- Initially, the cost and selling price per 1000 gm of rice are the same.
- Due to a faulty machine, the seller sells 950 gm as 1000 gm.
- Selling 950 gm at the cost of 1000 gm gives a 15% profit.
Calculation:
- Effective selling price for 1000 gm for a 15% profit: 1.15 * X.
- With a working machine, the weight is accurate at 1000 gm.
- To maintain 15% profit, selling price should still be 1.15 * X.
Options given:
- Option 1: 1.0295 * X
- Option 2: 1.0259 * X
- Option 3: 10.0925 * X
- Option 4: 10.0950 * X
Correct Answer: None of the options are exactly 1.15 * X Your calculation or given options seem to have errors.
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