A trader sells his goods to a customer at a profit of y%. If he gives 900gm instead of 1 kg, then his overall profit will be 20%. Find the value of y.
Answer & explanation
Correct answer: option 2
Let the cost of 1000 gm = Rs. 100
SP of 1000 gm = (100+y)
But he uses 900 gm instead of 1000 gm
SP of 900 gm = (100+y)
∴ CP of 900 gm = 90
ATQ,
20 = \(\frac{100+y - 90}{90}\) × 100
y = 8