A shopkeeper marks up his goods by 30% and then gives a discount of 10% on the marked price. Apart from this, he uses a faulty balance which reads 1 kg for 870 g. What is his net profit percentage?
Answer & explanation
Correct answer: option 3
MP = 30% above CP
Discount% = 10%
Let CP of goods 1kg = Rs. 1000
Marked Price = Rs. 1300
Discount = 10% of MP = 10% × 1300 = Rs. 130
Selling Price = Rs. 1170
But he sold 870g instead of 1kg
SP for 870g = Rs. 1170
CP = Rs. 870
Now Profit%= ( 1170 - 870 ) × \(\frac{100}{870}\) = 34.48%