Question : A dishonest shopkeeper professes to sell goods at its cost price but uses a false weight of 950 gm for each kilogram. His gain percentage is:
Option 1: $6\frac{1}{4}\%$
Option 2: $5\frac{5}{19}\%$
Option 3: $5\frac{3}{17}\%$
Option 4: $6\frac{2}{7}\%$
Correct Answer: $5\frac{5}{19}\%$
Solution :
The shopkeeper sells 950 gm instead of 1000 gm.
Let the cost price of 1 gm be Re. 1.
Selling price of 950 gm = Cost price of 1000 gm = Rs. 1000
The cost price of 950 gm = Rs. 950
Profit = Rs. 1000 – Rs. 950 = Rs. 50
So, profit % $=\frac{\text{Profit}}{\text{CP}} × 100 = \frac{50}{950}× 100 = 5\frac{5}{19}\%$
Hence, the correct answer is $5\frac{5}{19}\%$.
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