A dishonest wheat vendor uses a weight of 1350 grams instead of 1 kg while buying his provisions, and uses a weight of 900 grams instead of 1 kg weight while selling them. He then professes to sell the provisions at their cost price to his customers. What is his profit percentage?
Question
A dishonest wheat vendor uses a weight of 1350 grams instead of 1 kg while buying his provisions, and uses a weight of 900 grams instead of 1 kg weight while selling them. He then professes to sell the provisions at their cost price to his customers. What is his profit percentage?
Solution
To solve this problem, we need to understand that the vendor is making a profit both when buying and selling the wheat.
Step 1: Calculate the actual amount of wheat the vendor is buying The vendor is using a weight of 1350 grams instead of 1 kg (which is 1000 grams). So, for every 1 kg of wheat he is supposed to buy, he is actually buying 1.35 kg.
Step 2: Calculate the actual amount of wheat the vendor is selling The vendor is using a weight of 900 grams instead of 1 kg when selling the wheat. So, for every 1 kg of wheat he is supposed to sell, he is actually selling 0.9 kg.
Step 3: Calculate the profit The vendor buys 1.35 kg of wheat and sells the same amount as 1.5 kg (since 1.35 kg / 0.9 kg = 1.5 kg). So, he is making a profit of 0.5 kg for every 1 kg he sells.
Step 4: Calculate the profit percentage The profit percentage is calculated as (Profit / Cost Price) * 100. In this case, the cost price is 1 kg and the profit is 0.5 kg. So, the profit percentage is (0.5 / 1) * 100 = 50%.
So, the vendor is making a profit of 50%.
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