A dishonest shopkeeper promises to sell his goods at 25% loss but uses 800 gm weight instead of 1 kg. Find his actual loss percent.
Answer & explanation
Correct answer: option 2
Let the price of 1000 gm = 100
Selling price of 800 gm = 100 × \(\frac{75}{100}\) = Rs. 75
Cost price of 800 gm = Rs. 80
Loss % = \(\frac{(80-75)}{80}\) × 100 = 6.25%