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
Question
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
Solution
First, let's understand the situation. The merchant is using a faulty scale that measures 90 cm for every meter. This means that for every meter of cloth he sells, he is actually only giving away 90 cm.
Next, he marks up the price of the cloth by 20%. This means that he is charging 20% more than the original price.
Now, let's calculate the profit percentage.
-
The merchant is giving 90 cm but taking money for 1 meter. So, he is gaining 10 cm for every meter he sells. This is a gain of 10/90 = 1/9 = 11.11%
-
He also marks up the price by 20%.
So, the total profit percentage is 11.11% (from faulty scale) + 20% (from price markup) = 31.11%
Therefore, the closest answer is 35% profit (option b).
Similar Questions
Choose the correct option. A man bought 400 meters of cloth for Rs. 40,000 & sold it at a rate of Rs. 200 per one and a half meter. What was his percentage profit or loss? Options 36% loss 25% profit 33% profit 27% loss
A dishonest shopkeeper uses two different scales while buying and selling the goods. Both the scales are faulty. While buying he uses a scale that shows 900 gm per kg of the goods bought. Similarly while selling, he uses a scale that shows 1100 gm per kg of the goods sold. What is his profit percent, if he claims to sell the goods at cost price?
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
A trader fixes the selling price of an article 20% abovecost price, but he sold that article at a loss of 10% on the fixed price. Find thepercentage of profit/loss.4% loss10% loss8% profit10% profit
Select the correct answerA man sells his goods at a certain price, 20% of which is his profit. If the price at which he buys the goods increases by 10% and he sells them at an 8% higher, then what will be his profit percent (correct to one decimal place)?Options21.822.723.421.4
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.