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A dishonest dealer claims to sell a product at its cost pric
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01 Oct 2013, 01:39
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A
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C
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Difficulty:
95%
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Question Stats:
25%
(02:07)
correct
75%
(02:21)
wrong
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A dishonest dealer claims to sell a product at its cost price. He uses a counterfeit weight which is 20% less than the real weight. Further greed overtook him and he added 20% impurities to the product. Find the net profit percentage of the dealer?
Re: A dishonest dealer claims to sell a product at its cost pric
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03 Sep 2015, 03:02
1
Kudos
Hi,
Can someone please tell me how to arrive at the answer? I'm repeatedly getting 56.25.
My approach, Say the CP is C For 1kg. Now if he is using a tainted weight then the SP would be C for 0.8 kg. He again adds 20% impurities. So 20% if 0.8 = 0.16 kg. (0.8 - 0.16) = 0.64 kg which he sells for C. From this we can say the SP of 1kg as 100C/64 (SP-CP/CP) *100 we get 56.25 %
Would be great if you could tell me what is wrong with my method and solve it on similar terms.
Re: A dishonest dealer claims to sell a product at its cost pric
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03 Sep 2015, 11:02
2
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b2bt wrote:
A dishonest dealer claims to sell a product at its cost price. He uses a counterfeit weight which is 20% less than the real weight. Further greed overtook him and he added 20% impurities to the product. Find the net profit percentage of the dealer?
I feel the OA is incorrect I was getting 56.25% as both the profits should be successive (that's what I feel 25% profit by each cheating)
The dealer uses weight which is 20% less than the real weight. or (1- 1/5) or 4/5 of real weight. It means that he is selling $4 worth of product for $5.
The dealer then further added 20% impurities to the product. It means that he is selling $5 worth of product for $6.
So his profit is $6-$4 = $2 and his profit percent is (2/4)*100 = 50%
Answer:- C
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