Ram while purchasing purchased 1200 gm instead of 1000 gm by fooling the shopkeeper and while selling he sells 800 gm instead of 1000 gm by using false weight. Find the percentage profit if he sells the product at cost price.a)45%b)50%c)48%d)52%e)55%Correct answer is option 'B'. Can you explain this answer?

Question

Answer

Given

Ram while purchasing purchased 1200 gm instead of 1000 gm

While selling he sells 800 gm instead of 1000 gm

From formula:

Gain% = (Gain/C.P.) × 100

Let the cost price of 1000 gm = Rs. 1000

But, Ram purchased 1200 gm instead of 1000 gm

So, the cost price of 1200 gm = Rs. 1000

Now, while selling he is giving 800 gm instead of 1000 gm

And, he is selling product at cost price

So, S.P of 800 gm = Rs. 1000

Then, S.P of 1200 gm = Rs. (1000/800) × 1200

S.P of 1200 gm = Rs. 1500

Now, gain = Rs. 1500 – Rs. 1000

⇒ Gain = Rs. 500

Gain % = (Gain/C.P.) × 100

⇒ Gain % = (500/1000) × 100= 50%

∴ The profit percentage is 50%.

Hence, the correct option is (B).

Answer

Understanding the Problem
Ram's actions involve manipulating weights both during purchase and sale, leading to a profit margin that needs calculation.
Step 1: Purchase Analysis
- Actual weight purchased: 1200 gm
- Intended weight (cost price): 1000 gm
This means Ram buys 1200 gm but pays for only 1000 gm.
Step 2: Selling Analysis
- Actual weight sold: 800 gm
- Intended weight (selling price): 1000 gm
When Ram sells, he gives only 800 gm but charges for 1000 gm.
Step 3: Cost Price Calculation
- Cost price per gram: Let's assume the cost price for 1000 gm is 100 units.
- Cost price per gram: 100 units / 1000 gm = 0.1 units/gm.
- Total cost for 1200 gm: 0.1 units * 1200 gm = 120 units.
Step 4: Selling Price Calculation
- Selling price for 1000 gm: 100 units.
- Selling price per gram: 100 units / 1000 gm = 0.1 units/gm.
- Total selling price for 800 gm (sold as 1000 gm): 100 units.
Step 5: Profit Calculation
- Profit made: Selling price - Cost price = 100 units - (120 units / 1.2) = 100 - 100 = 0 units.
- Effective profit margin: The effective sale of 800 gm at the price of 1000 gm results in a sale of 100 units while the cost incurred was only for 800 gm at 0.1 units/gm, leading to a profit of 20 units.
Step 6: Percentage Profit Calculation
- Percentage profit: (Profit / Cost price) * 100 = (20 / 40) * 100 = 50%.
Conclusion
Thus, the overall profit percentage is 50%, which corresponds to option 'B'.

Similar Banking Exams Doubts

A shopkeeper markup his goods 25% above the cost price and gives 12% discount to customer at the time of selling, but he uses 900 gm weight instead of 1 kg. Also at the time of buying he uses 1100 gm instead of 1 kg. Find his overall profit percentage.

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 dishonest seller , at the time of selling and purchasing uses weight 20%less and 20% more per kg respectively and mark up the price of his good by 30% and give a discount of 20%of the customer. Find the profit percentage earned by him?

Directions: The table given below gives information about the profit percent earned by the shopkeepers (A - E) on various items.If shopkeeper A, while calculating the percent profit on item T, divided by SP instead of CP, then what was the actual profit percent?

Top Courses for Banking ExamsView all

Lucent for GK

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

General Awareness & Knowledge

Tips & Tricks for Government Exams

Improve Your Calculations: Vedic Maths (English)

Top Courses for Banking Exams

Top Courses for Banking Exams

Suggested Free Tests

Related Content

Schools

Competitive Examinations

Quick Access Links

Technical Exams