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07 Feb 2014, 04:15
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B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
68% (02:08) correct
32%
(02:24)
wrong
based on 816
sessions
History
Date
Time
Result
Not Attempted Yet
A merchant claims a loss of 4% on coffee but uses a weight of 840 gms instead of 1 kg to sell the coffee. The merchant actually makes a
A. 11 \(\frac{1}{7}\) % gain
B. 14 \(\frac{2}{7}\) % gain
C. 4% loss
D. 4% gain
E. 2% gain
A. 11 \(\frac{1}{7}\) % gain
B. 14 \(\frac{2}{7}\) % gain
C. 4% loss
D. 4% gain
E. 2% gain
14 Nov 2017, 01:26
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Bunuel
Say the cost price is 1 cent for a gram, so the cost price of 1000 grams is 1000 cents. 4% loss means that the merchant sells for 960 cents.
Actually he sells 840 grams for 960 cents. The cost of 840 grams is 840 cents, so the actual gain is (960 - 840)/840 = ~14%.
Answer: B.
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Hope this helps.
General Discussion
04 Mar 2014, 02:01
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Say actual cost = 1
Manipulated cost \(= \frac{960}{840}\)
Difference \(= \frac{960}{840} - 1\)
\(= \frac{120}{840}\)
\(= \frac{1}{7}\)
Answer = B
Manipulated cost \(= \frac{960}{840}\)
Difference \(= \frac{960}{840} - 1\)
\(= \frac{120}{840}\)
\(= \frac{1}{7}\)
Answer = B
