Instead of 1 meter scale, a cloth merchant uses a 105 cm scale while buying, but uses an 80 cm scale while selling the same cloth. If he offers a discount of 10% on the cash price, find the profit %?
Answer & explanation
Correct answer: option 1
CP : SP
100 : 105
80 : 100
10 : 9
------- -------
160 189
Profit = \(\frac{189 - 160}{160}\) × 100
Profit = 18.125%