A dishonest shopkeeper promises to sell his goods at its cost price but he uses 24% less weight. The profit percent is:
Answer & explanation
Correct answer: option 4
Let the price of 1000 gm. = Rs. 100
but he uses 760 gm. instead of 1000 gm. (1000 × 76% = 760 gm.)
C.P. of 760 gm. = Rs. 76
S.P. of 700 gm. = Rs. 100
Profit = \(\frac{(100 - 76)}{76}\) × 100 = \(\frac{2400}{76}\) = 31\(\frac{11}{19}\)%