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23 Apr 2019, 01:25
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A
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55% (02:06) correct
45%
(02:21)
wrong
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A seller sells his rice at cost price but uses a faulty weighing machine. The weighing machine reads a% less than that actual weight of the rice that is being sold. Find the profit/loss percentage on selling \(10\) kg of the rice.
1) If the seller gives a discount of 10%, then he will incur a loss of 55%
2) The cost price per kg is 5 dollars.
1) If the seller gives a discount of 10%, then he will incur a loss of 55%
2) The cost price per kg is 5 dollars.
Vinit800HBS
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Expert reply
17 May 2019, 04:22
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neha283
Let me elaborate by a bit of calculation and then will give you he logical answer to it.
Let’s assume that the shopkeeper SELLS the 10kg rice at “x” which accounts for the loss also.
Let the actual cost of the rice is “y”.
Thus, “x” is the price which factors in the loss that the shopkeeper will incur and “y” is the price without any fault.
Now, if shopkeeper gives a further 10% discount on already loss making price “x”, he makes a 55% loss overall. So, shopkeeper sells the rice at 45% of its value “y”.
So,
0.9*x = 0.45*y
X = 0.5*y
Thus, X is 50% of actual cost.
So, loss would be 50% of the actual cost.
Thus, Statement 1 alone is sufficient.
Statement 2 provides not enough information about selling price or how much less does the weighing machine weigh. So, statement 2 is not sufficient.
Hence, A is our answer.
LOGICAL APPROACH:
If a further 10% discount would have not been given, rice is still sold at a loss which is less that 55%. Basically, 10% discount is further aggravating the loss quantum by a certain % age which can be found out by forming mathematical expression.
But, as the machine is weighing “a%” less, a loss of “a%” is already incurred and the loss is further aggravated by a 10% discount which will take the loss quantum to “1.1*a%”.
Hope this clarifies your doubt.
Cheers. May the 800 be with you!
Posted from my mobile device
Let me elaborate by a bit of calculation and then will give you he logical answer to it.
Let’s assume that the shopkeeper SELLS the 10kg rice at “x” which accounts for the loss also.
Let the actual cost of the rice is “y”.
Thus, “x” is the price which factors in the loss that the shopkeeper will incur and “y” is the price without any fault.
Now, if shopkeeper gives a further 10% discount on already loss making price “x”, he makes a 55% loss overall. So, shopkeeper sells the rice at 45% of its value “y”.
So,
0.9*x = 0.45*y
X = 0.5*y
Thus, X is 50% of actual cost.
So, loss would be 50% of the actual cost.
Thus, Statement 1 alone is sufficient.
Statement 2 provides not enough information about selling price or how much less does the weighing machine weigh. So, statement 2 is not sufficient.
Hence, A is our answer.
LOGICAL APPROACH:
If a further 10% discount would have not been given, rice is still sold at a loss which is less that 55%. Basically, 10% discount is further aggravating the loss quantum by a certain % age which can be found out by forming mathematical expression.
But, as the machine is weighing “a%” less, a loss of “a%” is already incurred and the loss is further aggravated by a 10% discount which will take the loss quantum to “1.1*a%”.
Hope this clarifies your doubt.
Cheers. May the 800 be with you!
Posted from my mobile device
General Discussion
24 Apr 2019, 19:51
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PriyankaPalit7
You don't have to solve, just knowing that the answer required is in terms of a percentage, the statement talking of percentages bin all likelihood will be the answer.
You don't require a specific value in most cases.
Statement I is sufficient..
A
