Question

Lalit marks up his goods by 40% and gives a discount of 10%. Apart from this, he uses a faulty balance also, which reads 1000 gm for 800 gm. What is his net profit percentage?

Answer 1

Given that,

Lalit marks up his goods by 40% and gives a discount of 10%.

We need to calculate the profit

Using formula of profit

Profit=total selling price - discount

Put the value into the formula

$Profit=40-10$

$Profit=30%$

Let's take the buying price as x.

The profit on the 1000g rather 1 kg will be 30% of x.

We need to calculate the profit for 800 gm

Using formula of profit

$Profit= \dfrac{30x}{100}$

$Profit = 0.3x$

We need to calculate the profit for 1000 gm

Using formula of profit

$Profit= \dfrac{1000}{800}\times0.3x$

$Profit = 0.375x$

We need to change the profit in to percentage

Using formula for percentage

$\text{Percentage of profit}=\dfrac{0.375x}{x}\times100$

$\text{Percentage of profit}=37.5\%$

Hence, His net profit percentage is 37.5%