Question : Ravi buys salt at INR 16 per kg and sells it at INR 18 per kg. He also uses the weight of 900 gm instead of 1000 gm. What is Ravi’s actual profit percentage?
Option 1: $23 \%$
Option 2: $20 \%$
Option 3: $23 \frac{11}{18} \%$
Option 4: $25 \%$
Correct Answer: $25 \%$
Solution :
The cost price of 1000 gm of salt = INR 16
Cost of 900 gm of salt $= \frac{16}{1000}\times900 = 14.4$
The selling price of 900 gm salt = INR 18
Profit = 18 – 14.4 = 3.6
So, the Profit percentage = $\frac{\text{Profit}}{\text{Cost price}}\times 100$
= $\frac{3.6}{14.4}\times 100=25$
Hence, the correct answer is $25 \%$.
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