Question

a dishonest shopkeeper marked the price of 1 kg rice 50% above the cost price. while buying 1250 grms instead of 1kg and selling gave 1176 grams instead of 1kg by allowing discount of 20%. what is the actual profit?

Answer 1

actual profit = 27.55 %  

Step-by-step explanation:

Let sat Cost Price of 1 kg =  C

buying 1250 grms instead of 1kg

=> Effective Cost Price of 1 kg  =  C * 1000/1250  = 0.8C  

Marked Price 50% above the cost price = C  + (50/100)C = 1.5C

discount of 20%

=> Selling Price = 1.5C - (20/100)1.5C =  1.2C

1.2C  is Selling Price of 1 kg

but He gave 1176 gm  

so Selling Price of  1 kg  = 1.2C  * 1000/1176   =  50C/49  

Profit =  50C/49  -  0.8C    =  10.8C/49

Profit %  = 100 *   (10.8C/49)/0.8C  = 27.55 %

actual profit = 27.55 %

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Answer 2

The actual profit is 27.55%.

Step-by-step explanation:

A dishonest shopkeeper marked the price of 1 kg rice 50% above the cost price.

Let the cost price of 1 kg rice be 'x'.

Buying 1250 grms instead of 1kg and selling gave 1176 grams instead of 1kg by allowing discount of 20%.

So, the cost price of 1 kg rice is $\frac{1000}{1250}\times x=0.8x$

Discount = 50%

Market price is $M=CP+D\%\times CP$

$M=x+\frac{50}{100}x$

$M=1.5x$

1kg by allowing discount of 20%.

The selling price is

$SP=1.5x-\frac{20}{100}\times 1.5x$

$SP=1.5x-0.3x$

$SP=1.2x$

The selling price of 1 kg of rice is 1.2x.

But he gave 1176 gram.

Selling Price of  1 kg  is given by,

$SP=1.2x\times \frac{1000}{1176}=\frac{50}{49}x$

Profit = SP-CP

$P=\frac{50}{49}x-0.8x$

$P=\frac{108}{49}x$

The profit percentage is given by,

$P=\frac{\frac{108}{49}x}{0.8x}\times 100$

$P=27.55\%$

Therefore, the actual profit is 27.55%.

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