Multiple choice

Satish buys Wheat at Rs. 10 per kg and puts a price tag on it so as to earn a profit of 30%. However, his faulty balance shows 1 kg when it is actually 700 gm. What is his actual profit percent ?

  1. a)500/7%

  2. b)600/7%

  3. c)70%

  4. d)300/7%

  5. e)450/7%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Cost price for 1 kg = 10. Marked price for 1 kg = 10 * 1.3 = 13. He sells 700g for 13. Cost of 700g = 7. Profit = 13 - 7 = 6. Profit % = (6/7) * 100 = 600/7%.

AI explanation

Assume Satish buys 700 grams of wheat for 7 Rs to align with the 10 Rs per kg rate, but he prices it as 1 kg to earn a 30% profit, making the tagged price 13 Rs. His cost price remains 7 Rs while he sells the 700 grams for 13 Rs. The actual profit is 6 Rs on the cost price of 7 Rs, and calculating the percentage gives 6 divided by 7 multiplied by 100, which equals 600/7%.

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