Question : A shopkeeper claims to sell his articles at INR 20 per kg which cost him INR 23 per kg. But while selling, he uses a false weight and gives only 800 gm instead of 1 kg. What is his profit percentage?
Option 1: $8 \frac{17}{23} \%$
Option 2: $8 \frac{16}{23} \%$
Option 3: $8 \frac{14}{23} \%$
Option 4: $8 \frac{15}{23} \%$
Correct Answer: $8 \frac{16}{23} \%$
Solution :
The cost price of 1000 gm of article = INR 23
Cost of 800 gm of article = $\frac{23}{1000}\times800=18.4$
The selling price of 800 gm article = INR 20
Profit = 20 – 18.4 = 1.6
Profit percentage = $\frac{\text{Profit}}{\text{Cost price}}\times 100$
= $\frac{1.6}{18.4}\times 100=8 \frac{16}{23}\%$
Hence, the correct answer is $8 \frac{16}{23} \%$.
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