Question
Download Solution PDFA shopkeeper professes to sell at cost price but still is able to earn a profit of 30%. Find the (approximate) weight used by the shopkeeper instead of 1000 gm.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGIVEN:
A shopkeeper professes to sell at cost price but still is able to earn a profit of 30%.
True weight = 1000 gm
CONCEPT:
Dishonest selling concept.
FORMULA USED:
When the shop keeper is selling at cost price then:
(True weight)/(False weight) = (100 + Gain%)/100
CALCULATION:
Using the formula:
(1000)/(False weight) = (100 + 30)/100
⇒ False weight = (100 × 1000)/130
⇒ False weight = 769.23
⇒ False weight = 770gm (Approx.)
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