Question : A shopkeeper weighs an item of 930 grams instead of 1 kg and sells it at its cost price. Find his profit percentage on selling 15 kg of the item.
Option 1: $8\frac{79}{93}$%
Option 2: $5\frac{21}{93}$%
Option 3: $7\frac{49}{93}$%
Option 4: $6\frac{19}{93}$%
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Correct Answer: $7\frac{49}{93}$%
Solution :
Faulty weight = 930 gm
True weight = 1000 gm
Gain % = $\frac{\text{Error}}{\text{True Value - Error}}×100$
Error = 1000 – 930 = 70 gm
The profit percentage on buying 15 kg will be the same as buying 1 kg.
Gain % = $\frac{70}{1000-70} \times 100$
⇒ Gain % = $\frac{70}{930} \times 100 = 7\frac{49}{93}$%
Hence, the correct answer is $ 7\frac{49}{93}$%.
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