Help Plz...
Thu, 2010-07-15 15:53
I came acoss this question :
A dishonest dealer claims to sell a product at its cost price. He uses a counterfeit weight which is 20% less than the real weight. Further greed overtook him and he added 20% impurities to the product. Find the net profit percentage of the dealer?
I am gettng the answer as 50% but it shows 56.25% ...plz help and solve this ques..!!!!
You are correct. The solution you are referring is wrong.
Let the total value be 100x. Due to the faulty weight the actual weight sold is 80x.
Again he adds 20% impurities, so the new weight tends to 120* 80x/100=96x
But due to the faulty weight this value becomes = 96x*100/80=120x
Hence the profit %= (120x-80x)/80x*100=50%