A shop owner professes to sell his articles at certain cost price but he uses false weights with ...
A shop owner professes to sell his articles at certain cost price but he uses false weights with which he cheats by 20% while buying and by 20% while selling. What is his percentage profit?
Answer/Solution
50%
Steps/Work
The owner buys 100 kg but actually gets 120kg;
The owner sells 100 kg but actually gives 80kg;
Profit: (120-80)/80*100=~50%
Answer: D.
The owner sells 100 kg but actually gives 80kg;
Profit: (120-80)/80*100=~50%
Answer: D.