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# A dishonest retailer cheats his wholesaler and customer both.

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PS Forum Moderator
Joined: 18 Jan 2020
Posts: 1501
Location: India
GPA: 4
A dishonest retailer cheats his wholesaler and customer both.  [#permalink]

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29 Jun 2020, 07:16
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55% (01:34) correct 45% (01:53) wrong based on 11 sessions

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A dishonest retailer cheats his wholesaler and customer both. He purchases 19% more from the wholesaler and sells 15% less while selling to its customers. What is profit percentage by selling the goods at Cost Price?

A. 34
B. 36
C. 32
D. 38
E. 40
Director
Joined: 16 Feb 2015
Posts: 657
Location: United States
Re: A dishonest retailer cheats his wholesaler and customer both.  [#permalink]

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29 Jun 2020, 07:25
1
Explanation:

Profit % = {119 × (100/85)}−100
= 40 %

IMO-E
Director
Joined: 24 Oct 2015
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Schools: Sloan '22, ISB'21, IIM
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Re: A dishonest retailer cheats his wholesaler and customer both.  [#permalink]

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29 Jun 2020, 07:32
yashikaaggarwal wrote:
A dishonest retailer cheats his wholesaler and customer both. He purchases 19% more from the wholesaler and sells 15% less while selling to its customers. What is profit percentage by selling the goods at Cost Price?

A. 34%
B. 36%
C. 32%
D. 38%
E. 40%

Profit% = goods left * 100 / goods sold

lets suppose retailer buys goods worth 100, due to cheating he gets goods worth 119.
while selling he sells 15% less, so instead of selling 100 he only sells 85.

goods left = 119 - 85 = 34
goods sold = 85
P% = 34 * 100 / 85 = 40%
Manager
Joined: 07 Jan 2020
Posts: 162
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A dishonest retailer cheats his wholesaler and customer both.  [#permalink]

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29 Jun 2020, 07:41
IMO E

Total profit percentage = (119 x 100/85) - 100 = 3400/85 = 40%

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Joined: 16 Sep 2018
Posts: 5
Re: A dishonest retailer cheats his wholesaler and customer both.  [#permalink]

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30 Jun 2020, 11:53
Hello folks. A quick question re: this topic. I'm following the same logic as in the answers to the problem bellow:

"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." and the answer is 21%.

However, I end up with 36.85% rather than with 40%. My logic is that the trader will earn 1.19 when buying and then another 1.15 when selling. so, overall, it'll get to 1.19*1.15= 1.3685 which translates to 36.85% profit. Can someone, help me understand what I'm missing here. Or at least how the two problems differ?

Thanks
Re: A dishonest retailer cheats his wholesaler and customer both.   [#permalink] 30 Jun 2020, 11:53