A shopkeeper promises to sell his good at x% profit but he uses 20% less weight while selling. Total gain is 56\(\frac{1}{4}\)%. Find the value of x?
Answer & explanation
Correct answer: option 4
let x% profit = \(\frac{b}{a}\)
C.P : S.P
Profit : a : b
Weight: 800 : 1000
Total Profit : 16 : 25 (+ 56\(\frac{1}{4}\)% = \(\frac{9}{16}\))
\(\frac{800a}{1000b}\) = \(\frac{16}{25}\)
\(\frac{a}{b}\) = \(\frac{4}{5}\)
a : b = 4 : 5
x% = \(\frac{1}{4}\) × 100% = 25%