A shopkeeper marks his goods 50% above cost price and gives 20% discou

1.	A shopkeeper marks his goods 50% above cost price and gives 20% discount on Marked price to his customers. However, while selling his goods he uses a false weight of 950 gm instead of a kg. Find his profit percentage?1. 26(6/19)%2. 26(8/19)%3. 20(6/19)%4. 22(6/19)%
Answer» Correct Answer - Option 1 : 26(6/19)% Given: Marked up % = 50% Discount given on MP = 20% Weight used = 950 gm Concept: Assume the original weight be 1000 gm and the CP of 1 gm be Rs. 1 and continue. Formula used: Profit % = [(SP – CP)/CP] × 100 Calculation: Let the original weight = 1000 gm Weight used by shopkeeper = 950 gm Let the CP of 1 gm = Rs. 1. ∴ CP of 1000 gm = Rs. 1000 Marked up Price = (150/100) × 1000 = Rs. 1500 Discount offered = 20% of MP = (20/100) × 1500 = Rs. 300 ∴ Selling Price = Rs. 1500 - Rs. 300 = Rs. 1200 ∵ He sold 950 gm only, ∴ CP of 950 gm = Rs. 950. ∴ Profit = SP - CP = Rs. 1200 - Rs. 950 = Rs. 250 ∴ Profit % = [(SP – CP)/CP] × 100 = (250/950) × 100 = 26(6/19)%

A shopkeeper marks his goods 50% above cost price and gives 20% discount on Marked price to his customers. However, while selling his goods he uses a false weight of 950 gm instead of a kg. Find his profit percentage?1. 26(6/19)%2. 26(8/19)%3. 20(6/19)%4. 22(6/19)%

Answer» Correct Answer - Option 1 : 26(6/19)%

Given:

Marked up % = 50%

Discount given on MP = 20%

Weight used = 950 gm

Concept:

Assume the original weight be 1000 gm and the CP of 1 gm be Rs. 1 and continue.

Formula used:

Profit % = [(SP – CP)/CP] × 100

Calculation:

Let the original weight = 1000 gm

Weight used by shopkeeper = 950 gm

Let the CP of 1 gm = Rs. 1.

∴ CP of 1000 gm = Rs. 1000

Marked up Price = (150/100) × 1000

= Rs. 1500

Discount offered = 20% of MP

= (20/100) × 1500

= Rs. 300

∴ Selling Price = Rs. 1500 - Rs. 300

= Rs. 1200

∵ He sold 950 gm only,

∴ CP of 950 gm = Rs. 950.

∴ Profit = SP - CP

= Rs. 1200 - Rs. 950

= Rs. 250

∴ Profit % = [(SP – CP)/CP] × 100

= (250/950) × 100

= 26(6/19)%