Correct Answer - Option 1 : 60% profit
Given∶
He sells goods at 40% loss on C.P. and he also uses 30 gm in place of 80 gm weight.
Formula Used∶
Overall profit% or Loss% = [100 – Loss%] × (original weight/altered weight) – 100
Calculation∶
Here Loss% = 40%
Original weight = 80 gm
Altered weight = 30 gm
After using formula, we get,
Overall Profit% = [(100 – 40) × (80/30)] – 100 = (60 × 80)/30 – 100 = 160 – 100 = 60%
Here, the positive sign shows profit.
∴ The profit% is of 60%.