Multiple choice

A deceitful shopkeeper sells sugar at a rate of Rs. 45 per kilogram, which costs him Rs. 50 per kilogram. He tells his customers that he is providing a great discount. However, it is found that the shopkeeper uses an 850 grams weight instead of a 1 kg weight. Which of the following must be correct about its loss or gain percentage?

  1. A loss of 8.58%

  2. A loss of 5.88%

  3. A gain of 5.88%

  4. A gain of 6.58%

  5. A gain of 7.88%
Reveal answer Fill a bubble to check yourself
C Correct answer
AI explanation

The shopkeeper's cost price for 850 grams is (50 x 0.85) = 42.50. He sells this 850 grams for Rs. 45. Using the profit percentage formula, (Profit / Cost Price) x 100, the profit is 45 - 42.50 = 2.50. The gain percentage is (2.50 / 42.50) x 100 = 5.88%.

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