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A dishonest shopkeeper announces to sell rice at the cost price, but he uses a false weight of 920 gm instead of a kilogram. What is the gain percentage earned by the shopkeeper?
  • a)
    8.69% 
  • b)
    7.12% 
  • c)
    6.25% 
  • d)
    4.62% 
  • e)
    9.14%
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
A dishonest shopkeeper announces to sell rice at the cost price, but h...
He sells 920 grams of rice and gains 80 grams
Gain % = 80/920 * 100 = 8.69%
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Most Upvoted Answer
A dishonest shopkeeper announces to sell rice at the cost price, but h...
Given:
- The shopkeeper sells rice at the cost price.
- The shopkeeper uses a false weight of 920 gm instead of 1 kilogram.

To find:
- The gain percentage earned by the shopkeeper.

Solution:
To find the gain percentage earned by the shopkeeper, we need to compare the cost price and the selling price.

Let's assume the cost price of 1 kilogram of rice is Rs. x. Since the shopkeeper is selling at cost price, the selling price will also be Rs. x.

Now, the shopkeeper is using a false weight of 920 gm instead of 1 kilogram. So, the selling price for 920 gm will be Rs. x.

We can find the cost price for 920 gm using the concept of proportionality.

Cost price for 1 kilogram = Rs. x
Cost price for 920 gm = (920/1000) * x = (23/25) * x

Now, let's find the gain percentage using the formula:

Gain percentage = ((Selling price - Cost price) / Cost price) * 100

Substituting the values, we have:

Gain percentage = ((x - (23/25) * x) / ((23/25) * x)) * 100
= ((2/25) * x / ((23/25) * x)) * 100
= (2/23) * 100
= 200/23
= 8.69% (approx.)

Therefore, the gain percentage earned by the shopkeeper is approximately 8.69%.

Answer: Option 'A' (8.69%)
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A dishonest shopkeeper announces to sell rice at the cost price, but he uses a false weight of 920 gm instead of a kilogram. What is the gain percentage earned by the shopkeeper?a)8.69%b)7.12%c)6.25%d)4.62%e)9.14%Correct answer is option 'A'. Can you explain this answer?
Question Description
A dishonest shopkeeper announces to sell rice at the cost price, but he uses a false weight of 920 gm instead of a kilogram. What is the gain percentage earned by the shopkeeper?a)8.69%b)7.12%c)6.25%d)4.62%e)9.14%Correct answer is option 'A'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about A dishonest shopkeeper announces to sell rice at the cost price, but he uses a false weight of 920 gm instead of a kilogram. What is the gain percentage earned by the shopkeeper?a)8.69%b)7.12%c)6.25%d)4.62%e)9.14%Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A dishonest shopkeeper announces to sell rice at the cost price, but he uses a false weight of 920 gm instead of a kilogram. What is the gain percentage earned by the shopkeeper?a)8.69%b)7.12%c)6.25%d)4.62%e)9.14%Correct answer is option 'A'. Can you explain this answer?.
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