Multiple choice

A shopkeeper buys pulses at Rs. 10/kg and sold it at a price so that he can gain 40% profit. However, he has a faulty balance which shows 1000 gm when the weight is actually 800 gm. What is the actual gain percentage of the shopkeeper?

  1. 75%

  2. 80%

  3. 85%

  4. 90%

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Cost price for 1000g is 10 Rs. Selling price for 800g is 10 * 1.4 = 14 Rs. The shopkeeper sells 800g for 14 Rs, so 1000g would be sold for (14/800) * 1000 = 17.5 Rs. Gain = (17.5 - 10)/10 = 75%.

AI explanation

Assuming the cost price is Rs. 10 for 800 gm of pulses, the intended selling price for 800 gm to gain 40% profit is 10 * 1.40 = Rs. 14. However, using the faulty balance, the shopkeeper gives 800 gm but charges the customer for 1000 gm at the same intended rate, meaning he actually receives Rs. 14 * (1000 / 800) = Rs. 17.50. Using the profit percentage formula, ((17.50 - 10) / 10) * 100, the calculation yields an actual gain of 75%.

Keep practicing — related questions