A trader sells wheat at 10% profit and uses weight 10% less than the actual measure. What is his actual percentage gain?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 22.22%
The trader’s real gain is worked out on the cost of the wheat he really hands over, not on the weight he charges for.
Assuming the cost price of 1 kg to be 100:
He charges for 1 kg at 10% profit: 110
He hands over 10% less, that is 900 g, which costs him 90
Gain \(=110-90=20\)
Gain per cent \(\displaystyle =\frac{20}{90}\times100=22.22\%\)