A dishonest dealer claims to sell a product at its cost price. He uses a counterfeit weight that is 20% less than the real weight and also added 10% impurities to the product. Find the net profit % of the dealer.
Answer & explanation
Correct answer: option 2
CP : SP
20% → 80 : 100
10% → 10 : 11
--------- -------
8 11
Profit = \(\frac{3}{8}\) × 100
= 37.50%