A dishonest shopkeeper promises to sell his goods at its cost price but he uses 30% less weight. The profit percent is:
Answer & explanation
Correct answer: option 2
Let the price of 1000 gm. = Rs. 100
but he uses 700 gm. instead of 1000 gm. (1000 × 70% = 700 gm.)
C.P. of 700 gm. = Rs. 70
S.P. of 700 gm. = Rs. 100
Profit = \(\frac{(100 - 70)}{70}\) × 100 = \(\frac{300}{7}\) = 42\(\frac{6}{7}\)%