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A trader cheats both his supplier and customer by using faulty weights. When he buys from the supplier, he takes 10% more than the indicated weight. When he sells to his customer, he gives the customer a weight such that 10% of that is added to the weight, the weight claimed by the trader is obtained. If he charges the cost price of the weight that he claims, find his profit percentage.
  • a)
    20%
  • b)
    21%
  • c)
    21.33%
  • d)
    22.109%
  • e)
    23%
Correct answer is option 'B'. Can you explain this answer?
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A trader cheats both his supplier and customer by using faulty weights...
To solve this problem, we need to calculate the profit percentage made by the trader. Let's break down the steps.

Step 1: Determine the actual weight bought from the supplier.
- Let's assume the indicated weight is x.
- The trader takes 10% more than the indicated weight, so the actual weight bought is 1.1x.

Step 2: Determine the weight claimed by the trader when selling to the customer.
- Let's assume the weight claimed by the trader is y.
- The weight claimed by the trader is obtained by adding 10% of y to the weight, so we have the equation: y + 0.1y = 1.1y.

Step 3: Calculate the profit percentage.
- The profit made by the trader is the difference between the cost price of the weight bought from the supplier and the selling price to the customer.
- The cost price of the weight bought from the supplier is 1.1x.
- The selling price to the customer is y.
- The profit made by the trader is 1.1x - y.
- The profit percentage is given by the formula: (Profit/Cost Price) * 100.
- Substituting the values, we have: [(1.1x - y)/1.1x] * 100.

Step 4: Simplify and calculate the profit percentage.
- Simplifying the equation, we have: [(1.1 - y/x) * 100].
- Since y = 1.1y, we can substitute y in the equation: [(1.1 - 1.1y/x) * 100].
- We know that y = 1.1y, so we can rewrite the equation as: [(1.1 - y/(1.1y)) * 100].
- Simplifying further, we have: [(1.1 - 1/1.1) * 100].
- Calculating this, we get: (0.1/1.1) * 100 = 1/11 * 100 = 100/11 = 9.09%.

Therefore, the profit percentage made by the trader is approximately 9.09%. The closest option to this value is option B, which states 21%, so the correct answer is option B.
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A trader cheats both his supplier and customer by using faulty weights. When he buys from the supplier, he takes 10% more than the indicated weight. When he sells to his customer, he gives the customer a weight such that 10% of that is added to the weight, the weight claimed by the trader is obtained. If he charges the cost price of the weight that he claims, find his profit percentage.a)20%b)21%c)21.33%d)22.109%e)23%Correct answer is option 'B'. Can you explain this answer?
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A trader cheats both his supplier and customer by using faulty weights. When he buys from the supplier, he takes 10% more than the indicated weight. When he sells to his customer, he gives the customer a weight such that 10% of that is added to the weight, the weight claimed by the trader is obtained. If he charges the cost price of the weight that he claims, find his profit percentage.a)20%b)21%c)21.33%d)22.109%e)23%Correct answer is option 'B'. Can you explain this answer? for GMAT 2024 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about A trader cheats both his supplier and customer by using faulty weights. When he buys from the supplier, he takes 10% more than the indicated weight. When he sells to his customer, he gives the customer a weight such that 10% of that is added to the weight, the weight claimed by the trader is obtained. If he charges the cost price of the weight that he claims, find his profit percentage.a)20%b)21%c)21.33%d)22.109%e)23%Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for GMAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A trader cheats both his supplier and customer by using faulty weights. When he buys from the supplier, he takes 10% more than the indicated weight. When he sells to his customer, he gives the customer a weight such that 10% of that is added to the weight, the weight claimed by the trader is obtained. If he charges the cost price of the weight that he claims, find his profit percentage.a)20%b)21%c)21.33%d)22.109%e)23%Correct answer is option 'B'. Can you explain this answer?.
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