A man sells goods at 4% loss on cost price but he gives 20 g instead of 40 g. What is his profit or loss percentage ?
Answer & explanation
Correct answer: option 2
Loss% m = 4%,
a = 20 g and b = 40 g
Required profit = [(100 - m) × (\(\frac{b}{c}\)) -100] %
[(100 - 4) × \(\frac{40}{20}\) - 100] %
[96 × 2 - 100]%
192 - 100% = 92%