New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Question

    A shopkeeper uses a weight of 880 grams instead of 1 kg.

    Using this weight, he sells the goods at a profit of 4 percent. What will be the actual profit percentage?
    A 10.6% Correct Answer Incorrect Answer
    B 12.8% Correct Answer Incorrect Answer
    C 8.4% Correct Answer Incorrect Answer
    D 11.3% Correct Answer Incorrect Answer

    Solution

    Assume Cost Price (CP) of 1 kg: Let CP = Rs. 100 Selling Price (SP) for 1 kg with 4% profit: SP = 100 x 1.04 = 104 Rs. SP for 880 grams (used as 1 kg): SP for 880 grams = Rs. 104. CP for 1 gram = 100/1000 = 0.1 Rs. CP for 880 grams = 0.1 x 880 = 88 Rs. Actual Profit = SP-CP = 104-88=16 Rs. Profit percentage =16/88 ×100 =18.18% Alternate method- 4% Profit =1/25, where P=1 and CP =25 Then - SP/CP=26/25 ATQ- CPSP 2526Price 9401000Quantity 47   :52 Profit =52-47=5 Profit % =5/47 ×100 =10.64%

    Practice Next

    Relevant for Exams: