A shop owner professes to sell his articles at certain cost : GMAT Problem Solving (PS)
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# A shop owner professes to sell his articles at certain cost

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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
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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
[Reveal] Spoiler: OA
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17 Feb 2012, 22:42
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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 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%

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17 Feb 2012, 22:47
Bunuel wrote:
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 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 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.
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17 Feb 2012, 22:59
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.

Percentage profit = (110-90)/90 x 100%
= 22.22%

Option (D)
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17 Feb 2012, 23:09
LM wrote:
Bunuel wrote:
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 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 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%.
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Re: A shop owner professes to sell his articles at certain cost [#permalink]

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29 Jun 2014, 22:02
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Re: A shop owner professes to sell his articles at certain cost [#permalink]

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29 Jun 2014, 22:15

Means be buys 100 Kgs, however pays for 90 Kgs.

While selling, he cheats 10%

He sells 100Kgs, but receives payment for 110 Kgs

Total cheating done = 110 - 90 = 20Kgs

Percentage $$= \frac{20}{90} * 100 = 22.22%$$

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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!

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