Question : A balance of a trader weighs 20% less than it should be. Still, the trader marked up his goods to get an overall profit of 35%. What is the mark-up on the cost price?
Option 1: 7%
Option 2:
8%
Option 3:
9%
Option 4:
8.5%
Correct Answer:
8%
Solution :
Let the cost price of 1000 gm be Rs. 100.
The trader weighs 20% less than it should be.
So, he gives 800 gm, which is worth the cost price of Rs. 80.
He still earns an overall profit of 35%.
So, marked price $=\frac{100+ \text{Profit}\%}{100}×$ cost price $=\frac{100+35}{100}×80=108$
$\therefore$ Mark-up on the cost price $=108-100=8\%$
Hence, the correct answer is 8%.
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