Question : A shopkeeper professes to sell his goods at cost price but uses a 930 g weight instead of a 1 kg weight. What will be the profit percentage of the shopkeeper?
Option 1: 3.76
Option 2: 7.53
Option 3: 9.85
Option 4: 10.36
Answer (1)
18th Jan, 2024
Correct Answer: 7.53
Solution :
Let $x$ be the cost price of 1 kg.
Cost price of 930g = $\frac{930}{1000}x$ = $0.93x$
The selling price of 930g = $x$
Profit percentage = $\frac{x-0.93x}{0.93x}$ × 100 = $\frac{7}{0.93}$ = 7.53%
Hence, the correct answer is 7.53.
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