cleetus wrote:
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.
A) 20%
B) 21%
C) 21.33%
D) 22.109%
E) 23%
If no values are given in percentage questions, I always start with a 100.
Say he buys from his supplier. The indicated weight is 100 kg. He pays $100 for it (Rate - $1/kg). But because he is cheating, he gets 110 kg of material.
[highlight]His cost price for 110 kg is $100.[/highlight]
Then he sells to his customer at a rate of $1/kg.
He sells 100 kg but the weight shows that it is 110 kg. So the customer pays him $110.
Selling 100 kg gets him $110.
Selling 110 kg will get him $110/100 * 110 = $121
[highlight]His selling price for 110 kg is $121.[/highlight]
Profit% = 21%
Thanks Karishma.. Explained well as usual