A dishonest shopkeeper promises to sell his goods at its cost price but he uses 40% less weight. The profit percent is:
Answer & explanation
Correct answer: option 1
Let the price of 1000 gm. = Rs. 100
but he uses 600 gm. instead of 1000 gm. (1000 × 60% = 600 gm.)
C.P. of 600 gm. = Rs. 60
S.P. of 600 gm. = Rs. 100
Profit = \(\frac{(100 - 60)}{60}\) × 100 = \(\frac{200}{3}\) = 66\(\frac{2}{3}\)%