Multiple choice

A shopkeeper first marked up the price by some 10 percent of an article and then gives only 980 gm instead of 1 kg. Find the profit of the shopkeeper (approx value).

  1. 10%

  2. 15%

  3. 12%

  4. 18%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let CP of 1 kg = 100. Marked up by 10%, so marked price = 110. But gives only 980 gm instead of 1000 gm. Actual CP for 980 gm = 98. SP = 110. Profit = 110 - 98 = 12 on CP 98, which is 12.24%, approximately 12%.

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