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01 Jul 2012, 22:02
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Difficulty:
95%
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Question Stats:
47% (02:45) correct
53%
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wrong
based on 480
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A man cheats while buying as well as while selling. While buying he takes 10% more than what he pays for and while selling he gives 20% less than what he claims to. Find the profit percent, if he sells at 9.09% below the cost price of the claimed weight.
A. 19.81%
B. 20%
C. 37.5%
D. 25%
E. 37.5%
A. 19.81%
B. 20%
C. 37.5%
D. 25%
E. 37.5%
Show SpoilerSolution
In weight questions, try to go one step at a time.
Say the man buys 100 pounds for $100. But he cheats and takes 110 pounds. This means HIS cost price is $10/11 per pound.
While giving 100 pounds, he actually gives only 80 pounds and charges 9.09% less i.e. 1/11 less than the cost price of 100 pounds which is $100. So he sells at 10/11 * 100 = 1000/11
HIS cost price for 80 pounds = 10/11 * 80 = 800/11
HIS selling price for 80 pounds = 1000/11
Profit = (1000/11 - 800/11)/800/11 * 100 = 25%
Say the man buys 100 pounds for $100. But he cheats and takes 110 pounds. This means HIS cost price is $10/11 per pound.
While giving 100 pounds, he actually gives only 80 pounds and charges 9.09% less i.e. 1/11 less than the cost price of 100 pounds which is $100. So he sells at 10/11 * 100 = 1000/11
HIS cost price for 80 pounds = 10/11 * 80 = 800/11
HIS selling price for 80 pounds = 1000/11
Profit = (1000/11 - 800/11)/800/11 * 100 = 25%
There is a one step calculation method too. It requires more thought but is faster.
The man takes 10% more than what he pays for. So if he claims to take 100 pounds, he pays $100 but he actually takes 110 pounds for which he will take from the customer $110. Hence, in effect, there is a 10% mark up.
While selling, he sells 20% less. This means, he claims to sell 100 pounds and gets $100 but actually sells only 80 pounds and should have got only $80 for it. So this is again a mark up of $20 on $80 which is 25%.
But he also sells at 9.09% less i.e. gives a discount of 1/11.
(1 + m1%)(1 + m2%)(1 - d%) = (1 + p%)
11/10 * 5/4 * 10/11 = (1 + p%)
profit % = 25%
The man takes 10% more than what he pays for. So if he claims to take 100 pounds, he pays $100 but he actually takes 110 pounds for which he will take from the customer $110. Hence, in effect, there is a 10% mark up.
While selling, he sells 20% less. This means, he claims to sell 100 pounds and gets $100 but actually sells only 80 pounds and should have got only $80 for it. So this is again a mark up of $20 on $80 which is 25%.
But he also sells at 9.09% less i.e. gives a discount of 1/11.
(1 + m1%)(1 + m2%)(1 - d%) = (1 + p%)
11/10 * 5/4 * 10/11 = (1 + p%)
profit % = 25%
09 Sep 2022, 20:01
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Let's say the trader is supposed to buy for 100 dollars. He takes goods worth 110 dollars. Cheat income here is 10 dollars. He can sell 110 dollars worth of goods.
He sells 20 percent less. So he sells goods worth 88 dollars. Cheat income here is 22 dollars. He sells 88 dollars worth of goods.
But he offers 10 percent discount on 110 which is the claimed worth. Loss here is 10 dollars
Net profit is 10+ 22-10 which is 22.
Cost price to the trader is the worth of goods he sells which is 88 dollars.
Profit percentage is 22/88 *. 100 =25%.
Posted from my mobile device
He sells 20 percent less. So he sells goods worth 88 dollars. Cheat income here is 22 dollars. He sells 88 dollars worth of goods.
But he offers 10 percent discount on 110 which is the claimed worth. Loss here is 10 dollars
Net profit is 10+ 22-10 which is 22.
Cost price to the trader is the worth of goods he sells which is 88 dollars.
Profit percentage is 22/88 *. 100 =25%.
Posted from my mobile device
