652 Views

Question : A shopkeeper uses 940 gm weight in place of one kg weight. He sells it at 4% profit. What will be the actual profit percentage? (rounded off to two decimal places)

Option 1: 9.25%

Option 2: 10.32%

Option 3: 10.64%

Option 4: 10.96%


Team Careers360 3rd Jan, 2024
Answer (1)
Team Careers360 4th Jan, 2024

Correct Answer: 10.64%


Solution : Let the cost price of 1 kg of the item be $x$.
The shopkeeper is selling 940 gm of the item for 1.04$x$ (since he sells it at 4% profit).
The cost price of 940 gm of the item is 0.94$x$.
The profit made by the shopkeeper is 1.04$x$ - 0.94$x$ = 0.10$x$.
$\text{Profit percentage} = \frac{\text{Profit}}{\text{Cost Price}} \times 100$
= $ \frac{0.10x}{0.94x} \times 100 = 10.6382\approx 10.64$%
Hence, the correct answer is 10.64%.

SSC CGL Complete Guide

Candidates can download this ebook to know all about SSC CGL.

Download EBook

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books