Select the correct answerA shopkeeper sells his goods at cost price but uses a faulty meter that weighs 950 grams. Find the profit percent.Options 10037% 10019% 76123%None of these
Question
Select the correct answerA shopkeeper sells his goods at cost price but uses a faulty meter that weighs 950 grams. Find the profit percent.Options 10037% 10019% 76123%None of these
Solution
The profit percentage can be calculated using the formula:
Profit % = [(Selling Price - Cost Price) / Cost Price] * 100
In this case, the shopkeeper sells his goods at cost price but uses a faulty meter that weighs 950 grams instead of 1000 grams. This means that for every 1000 grams (1 kilogram) of goods, the shopkeeper only gives 950 grams.
So, the cost price for the shopkeeper is for 950 grams, but he sells it as 1000 grams. This means that the shopkeeper makes a profit on the 50 grams that he doesn't give to the customer.
To find the profit percentage, we need to calculate the profit made on 950 grams (since this is the actual weight of the goods sold) and then multiply it by 100 to convert it into a percentage.
Profit % = [(1000 - 950) / 950] * 100 Profit % = [50 / 950] * 100 Profit % = 0.05263 * 100 Profit % = 5.263 %
None of the options provided (10037%, 10019%, 76123%) match the calculated profit percentage. Therefore, the correct answer is "None of these".
Similar Questions
A dishonest shopkeeper claims to sell goods at cost price but uses a weight of 900 gm for 1 kg. find the percentage profit to the shopkeeper?
A cloth merchant used a faulty scale which measured 90 cm instead of 1 metre. He also marked up the price of the cloth material by 20%. If he sells the cloths at marked price, what percentage profit will he obtain?Question 12Answera.25% profitb.35% profitc.20% profitd.25% Loss
A shopkeeper sells his goods at a profit of 10%. But he used weight of 800 gm instead of 1000 gm while buying. Find his actual profit.
Select the correct answerA merchant has 1000 kg of sugar part of which he sells at 6% loss and the rest at 4% profit. He gains 3% on the whole. The Quantity sold at 4% profit is?Options200600900100
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?
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.