A dishonest shopkeeper promises to sell his goods at its cost price but he uses 14% less weight. The profit percent is:
Answer & explanation
Correct answer: option 3
Let the price of 1000 gm. = Rs. 100
but he uses 860 gm. instead of 1000 gm. (1000 × 86% = 860 gm.)
C.P. of 860 gm. = Rs. 86
S.P. of 860 gm. = Rs. 100
Profit = \(\frac{(100 - 86)}{86}\) × 100 = \(\frac{700}{43}\) = 16\(\frac{12}{43}\)%