A dishonest shopkeeper promises to sell his goods at its cost price but he uses 4% less weight. The profit percent is:
Answer & explanation
Correct answer: option 2
Let the price of 1000 gm. = Rs. 100
but he uses 960 gm. instead of 1000 gm. (1000 × 96% = 960 gm.)
C.P. of 960 gm. = Rs. 96
S.P. of 960 gm. = Rs. 100
Profit = \(\frac{(100 - 96)}{96}\) × 100 = \(\frac{25}{6}\) = 4\(\frac{1}{6}\)%