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A dishonest shopkeeper purchased one kg pulse at 120 Rs/kg and sell at 150 Rs/kg. He is giving only 800 gm of pulse instead of 1 kg while selling. Which of the following is correct?

I. Profit made by the shopkeeper is 56.25%

II. Profit on 2 kg pulse is Rs. 100


1. Only I
2. Only II
3. Both I and II
4. Neither I nor II

1 Answer

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Best answer
Correct Answer - Option 1 : Only I

Given:

CP of rice = 120 Rs/kg   

SP of rice = 150 Rs/kg

He is giving only 800 gm of rice instead of 1 kg

Formula Used:

Profit = SP – CP

Profit% = (Profit/CP) × 100

SP = {(100 + P%)/100} × CP

Where P is Profit, CP is cost price and SP is selling price.

Calculation:

He is giving only 800 gm of pulse instead of 1 kg while selling

Cost price of 1000gm = 120 Rs/kg   

Cost price of 800gm = (120/1000) × 800

⇒ 96 Rs/kg   

Effective cost price = 96 Rs.

SP = 150 Rs/kg

⇒ SP – CP = 150 – 96

⇒ 54 Rs/kg

Profit% = (54/96) × 100

Profit% = 56.25%

I. Profit made by the shopkeeper is 56.25%

⇒ Profit% = 56.25%

I is correct

II. Profit on 2 kg pulse is Rs. 100

Profit = 54 Rs/kg

Profit on 2 kg = 54 × 2

⇒ Rs. 108

⇒ II is incorrect

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