Subir claimed to sell his items at only 5% above the cost of production, but used a weight that had 1 kg written on it, though it actually weighed 960 grams. What was the actual profit percentage earned by Subir?
Answer & explanation
Correct answer: option 2
CP SP
cost 100 105 (5% above)
weight 960 1000 ( 960 gm instead of 1000 gm)
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96000 105000
32 : 35 = 3 Profit
Profit % = 3 × \(\frac{100}{32}\) = 9.375%