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Satish buys Wheat at Rs. 10 per kg and puts a price tag on it so as to

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Joined: 18 Dec 2017
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GMAT 1: 600 Q46 V27
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Satish buys Wheat at Rs. 10 per kg and puts a price tag on it so as to  [#permalink]

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New post 20 Jan 2020, 17:32
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Satish buys Wheat at Rs. 10 per kg and puts a price tag on it so as to earn a profit of 30%. However, his faulty balance shows 1 kg when it is actually 700 gm. What is his actual profit percent ?
A. 500/7%
B. 600/7%
C. 70%
D. 300/7%
E. 450/7%

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Re: Satish buys Wheat at Rs. 10 per kg and puts a price tag on it so as to  [#permalink]

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New post 20 Jan 2020, 19:23
TheNightKing wrote:
Satish buys Wheat at Rs. 10 per kg and puts a price tag on it so as to earn a profit of 30%. However, his faulty balance shows 1 kg when it is actually 700 gm. What is his actual profit percent ?
A. 500/7%
B. 600/7%
C. 70%
D. 300/7%
E. 450/7%


B IMO

CP of 1kg =10
CP of 1000gm=10
CP of 700 gm =(10/1000)*700=7
SP of 700 gm =13 ( 30 perfect + price tag he has put )
so profit
((13-7)/7)*100=600/7%
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Joined: 16 Feb 2015
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Location: United States
Re: Satish buys Wheat at Rs. 10 per kg and puts a price tag on it so as to  [#permalink]

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New post 20 Jan 2020, 21:28
Explanation:
Given: CP of 1kg of wheat = 10
CP for 700 gm of Wheat = 10x700/1000 = 7
SP (30% from Buying Price) = 10x130/100 = 13
Profit = {(13-7)/7}*100={6/7} x 100 = 600/7

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Re: Satish buys Wheat at Rs. 10 per kg and puts a price tag on it so as to   [#permalink] 20 Jan 2020, 21:28
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Satish buys Wheat at Rs. 10 per kg and puts a price tag on it so as to

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