Question : A dishonest shopkeeper professes to sell grains at the cost price, but he uses a weight of 920 gm for 1 kg weight. Find his gain percentage (round up to two decimal places).
Option 1: 7.90%
Option 2: 8.70%
Option 3: 8.50%
Option 4: 7.80%
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Correct Answer: 8.70%
Solution :
Let the cost price of 1g sugar be Rs. 1.
Assume he sells 1000g of sugar, since he uses false weight he sells only 920g of sugar.
Hence, the actual cost price for him is Rs. 920
Selling price = Rs. 1000
Hence, profit percentage = $\frac{1000-920}{920}\times 100=8.70\%$
Hence, the correct answer is 8.70%.
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