Profit & Loss Mcqs

Q.  A dishonest dealer professes to sell his goods at Cost Price but still gets 20% profit by using a false weight. What weight does he substitute for a kilogram?

a. 855 1/2 grams
b. 833 1/3 grams
c. 833 1/2 grams
d. 875 2/7 grams


ANSWER: See Answer
 
If the cost price is Rs.100, then to get a profit of 20%, the selling price should be Rs.120.
If 120kg are to be sold, and the dealer gives only 100kg, to get a profit of 20%.
How many grams he has to give instead of one kilogram(1000 gm).
120 gm —— 100 gm
1000 gm —— ?
(1000 * 100)/120 = 2500/3 = 833 1/3 grams.
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