Multiple choice

A seller uses 920 g in place of one kg to sell his goods, when he sells his article at 15% gain on cost price, the actual percentage of profit is

  1. 20%

  2. 15%

  3. 25%

  4. 30%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The seller uses 920g instead of 1000g. Cost price of 920g = 920 units. Selling price of 1000g = 1000 * 1.15 = 1150 units. Profit = 1150 - 920 = 230. Profit percentage = (230 / 920) * 100 = 25%.

AI explanation

Assume the cost price of 1g is Re. 1, making the cost price of the 920g actually provided equal to Rs. 920. The dealer sells this amount at a 15% profit on cost, making the selling price 115% of 920, which equals Rs. 1058. Using the actual profit percentage formula, the profit is 1058 minus 1000 equals Rs. 58, and 58 divided by 1000 multiplied by 100 gives 25%. The result is 25%.

Keep practicing — related questions