Question : Ranjeet buys 1 kg potato for INR 20 and sells it for INR 25. He also uses a weight of 800 gm in place of 1 kg. What is Ranjeet's actual profit percentage on the sale of 1 kg potato?
Option 1: 56.75%
Option 2: 56.25%
Option 3: 55.75%
Option 4: 57.25%
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Correct Answer: 56.25%
Solution :
The cost price of 1 kg potato = INR 20
Selling price of 800gm potato = INR 25
The cost price of 800 gm potato = $\frac{20\times 800}{1000}$ = INR 16
Profit percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100$
= $\frac{25-16}{16}\times100$
= $56.25$%
Hence, the correct answer is 56.25%.
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