Question : A shopkeeper sells sugar at INR 40 per kg, which he purchased at INR 36 per kg. His weighing machine is faulty and it weighs only 800 gm while selling. His percentage profit (correct to 2 decimal places) is:
Option 1: 37.58%
Option 2: 40%
Option 3: 39.28%
Option 4: 38.89%
Correct Answer: 38.89%
Solution :
The cost price of 1000 grams of sugar = INR 36
The selling price of 800 grams of sugar = INR 40
Selling price of 1000 gram of sugar = $\frac{40}{800}\times1000$ = INR 50
Profit = selling price – cost price = 50 – 36 = 14
Profit percentage = $\frac{\text{profit}}{\text{cost price}}\times100=\frac{14}{36}\times100= 38.89\%$
Hence, the correct answer is 38.89%.
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