2020 · Q21
A shopkeeper sells his articles at their cost price but uses a faulty balance which reads 1000 gm for 800 gm. What is the actual profit percentage?
Elementary MathematicsProfit and Loss
- A20%
- B25%
- C30%
- D40%
Explanation
He delivers 800 g but charges for 1000 g at cost price, so the profit is 200/800 = 25%. Hence option (B). Equivalently, he sells 1000 g worth of goods while parting with only 800 g - a 25% gain on cost.