Question : A grocer sells rice at 10% profit and uses weights which are 20% less than the market weight. The total gain percentage earned by him is:
Option 1: $33 \frac{1}{3}$%
Option 2: $20$%
Option 3: $40$%
Option 4: $37.5$%
Correct Answer: $37.5$%
Solution :
A grocer sells rice at 10% profit.
Let the cost price of the rice be 100.
Selling price = 100 + 10 = 110
He uses weights that are 20% less than the market weight.
Original cost of that rice = 100 – 20 = 80
$\therefore$ His profit percentage = $\frac{110-80}{80}×100=\frac{30}{80}×100=37.5\%$
Hence, the correct answer is $37.5$%.
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