A shop owner professes to sell his articles at certain cost

Question

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

Bunuel · Accepted Answer

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.

LM · Answer

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.

GyanOne · Answer

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)

Bunuel · Answer

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%.

PareshGmat · Answer

While buying, he cheats 10%

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%

Answer = D

mvictor · Answer

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

MG1105 · Answer

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%.

Can someone please explain why should 90 be in the denominator and not 110?? Kindly clarify this doubt. I face this issue a lot in such questions.

Namig · Answer

Let say article cost 1$ per kg. shop owner have 100$. with that he buys 110 kg article 10% more because of cheating. Then he sells 110 kg cheating 10% which means he sells 0.9 kg as 1 kg. He sells 110 kg as 110/0.9 = 122.22222 ≈ 122.22 kg
In result profit = Sell weight x price = 122.22 x1 = 122.22$. Cost = 100$. Profit = 122.22$ -100$ = 22.22$.
Profit percentage = (Profit / Cost) x 100 = 22.22/100 x 100 = 22.22%

Julioo · Answer

This is not a good question, there is a good deal of ambiguity in the wording.

A shop owner professes to sell his articles at certain cost

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