Ramesh claims that he is selling onions at Rs. 36 per kg, which costs him Rs. 40 per kg, but he gives 800 grams instead of 1 kg. Find Ramesh's percentage gain or loss.
Answer & explanation
Correct answer: option 4
Selling price of 1000 gm = Selling price of 800 gm = Rs. 36
Cost price of 1000 gm = Rs. 40
⇒ Cost price of 800 gm = Rs. \(\frac{40 × 800}{100}\) = Rs. 32
So, For 800 gm profit = Rs. (36 - 32) = Rs. 4
Profit% = (\(\frac{4}{32}\)) × 100 = 12.5%