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A shop owner professes to sell his articles at certain cost [#permalink]

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17 Feb 2012, 22:17

4

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A

B

C

D

E

Difficulty:

65% (hard)

Question Stats:

58% (02:32) correct
42% (01:31) wrong based on 154 sessions

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A shop owner professes to sell his articles at certain cost price but he uses false weights with which he cheats by 10% while buying and by 10% while selling. What is his percentage profit?

A. 10.22% B. 20.22% C. 21.22% D. 22.22% E. Can't be calculated

A shop owner professes to sell his articles at certain cost price but he uses false weights with which he cheats by 10% while buying and by 10% while selling. What is his percentage profit?

A. 10.22% B. 20.22% C. 21.22% D. 22.22% E. Can't be calculated

I guess we are asked to get the percentage profit from cheating.

The owner buys 100kg but actually gets 110kg; The owner sells 100kg but actually gives 90kg;

A shop owner professes to sell his articles at certain cost price but he uses false weights with which he cheats by 10% while buying and by 10% while selling. What is his percentage profit?

A. 10.22% B. 20.22% C. 21.22% D. 22.22% E. Can't be calculated

I guess we are asked to get the percentage profit from cheating.

The owner buys 100kg but actually gets 110kg; The owner sells 100kg but actually gives 90kg;

Profit: (110-90)/90*100=~22.22%

Answer: D.

Answer is correct! Again you seem to have attacked it in swift manner, but I am unable to understand which formula or concept you are using behind it. to calculate percentage profit, you have taken the ratios of the quantity and also I couldn't figure out how did you chose the denominator to be 90 instead of 110? If you can inform the basic fundamental concept/thought process behind it, it would be really helpful.

Supposing the shopkeeper bought good worth $100. Because he cheats by 10%, he would have paid only $90 for them. Again, while selling them, because he cheats, he sells goods worth $100 for $110.

A shop owner professes to sell his articles at certain cost price but he uses false weights with which he cheats by 10% while buying and by 10% while selling. What is his percentage profit?

A. 10.22% B. 20.22% C. 21.22% D. 22.22% E. Can't be calculated

I guess we are asked to get the percentage profit from cheating.

The owner buys 100kg but actually gets 110kg; The owner sells 100kg but actually gives 90kg;

Profit: (110-90)/90*100=~22.22%

Answer: D.

Answer is correct! Again you seem to have attacked it in swift manner, but I am unable to understand which formula or concept you are using behind it. to calculate percentage profit, you have taken the ratios of the quantity and also I couldn't figure out how did you chose the denominator to be 90 instead of 110? If you can inform the basic fundamental concept/thought process behind it, it would be really helpful.

First of all I don't think that this is a GMAT question, since there is certain ambiguity in wording. Next, if we forget about it, then we'll have that he gets 110kg and gives away 90kg

The owner sells 90kg of goods by price of 110kg: % of profit = profit/cost = 20/90 = ~22%.
_________________

Re: A shop owner professes to sell his articles at certain cost [#permalink]

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29 Jun 2014, 22:02

Hello from the GMAT Club BumpBot!

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Re: A shop owner professes to sell his articles at certain cost [#permalink]

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10 Aug 2015, 22:59

Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: A shop owner professes to sell his articles at certain cost [#permalink]

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04 Apr 2016, 17:16

LM wrote:

A shop owner professes to sell his articles at certain cost price but he uses false weights with which he cheats by 10% while buying and by 10% while selling. What is his percentage profit?

A. 10.22% B. 20.22% C. 21.22% D. 22.22% E. Can't be calculated

I picked 90$ for 100 units - after he cheated when he bought then, he sells "110" units for 110$ 110-90/90 = 20/90 = 2/9 2/9 is not a terminating decimal, and in fact is 0.22222222. so 22.22% D

gmatclubot

Re: A shop owner professes to sell his articles at certain cost
[#permalink]
04 Apr 2016, 17:16

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