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
