Question : A dishonest shopkeeper sells millet at 20 per kg, which he has bought at 16 per kg, and he is giving 800 gm instead of 1000 gm. Find his actual profit percentage.
Option 1: 52.12%
Option 2: 58.36%
Option 3: 54.25%
Option 4: 56.25%
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Correct Answer: 56.25%
Solution :
Here, CP = Cost price, SP = Selling price
CP of 1000 gm of millet = Rs. 16
CP of 1 gm of millet = $\frac{16}{1000}$ = Rs. 0.016
He gave only 800 gm.
CP of 800 gm of millet = $0.016 \times 800$ = Rs. $12.8$
SP of 800 gm of millet = Rs. 20
Profit = 20 – 12.8 = Rs. 7.2
Profit percent $=\frac{7.2}{12.8}\times 100 = 56.25\%$
Hence, the correct answer is 56.25%.
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