Profit & Loss · Question 28 · Hard
Profit & Loss question 28
A dishonest shopkeeper uses false weights to get 10% more than the stated quantity when buying and to give 10% less than the stated quantity when selling, at the same price per kg. What is his overall gain percentage?
- 20%
- 21%
- 22 2/9%
- 11 1/9%
Answer and explanation
Answer: C. 22 2/9%
Explanation: For every 1 kg he pays for, he receives 1.1 kg; for every 1 kg he is paid for, he gives only 0.9 kg. So 1.1 kg bought for the price of 1 kg is sold for the price of 1.1/0.9 kg. Gain = (1.1/0.9 − 1) × 100 = 22 2/9%.
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