A dishonest shopkeeper buys milk at Rs 24/liter and adds \(\frac{1}{3}\) of water and sells it at Rs 32/liter. What is his gain?
Answer & explanation
Correct answer: option 3
\(\frac{1}{3}\) → (where 1 → Mixed Water and 3 → Purchased quantuty)
Purchase Quantity + Water = Total
3 + 1 = 4
↓ ↓
×24 (Rs./ltr) ×32 (Rs./ltr)
↓ ↓
CP → 72 128 ← SP
Profit → \(\frac{128 - 72}{72}\) = \(\frac{56}{72}\) × 100 = 77.78%