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in Profit and Loss by (239k points)
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Find the gain percentage, if a dealer use a weight of 630 gram for 1 kg, and professes to sell his goods at cost price.
1. 59%
2. 29%
3. 63%
4. 45%

1 Answer

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Best answer
Correct Answer - Option 1 : 59%

Given

wrong weight = 630 gram instead of 1000 g

Formula used

Gain% = (Error)/(True value - error) × 100

Error means weighing less than the actual value and true value is the actual value.

Calculation

Error = 1000 - 630

⇒  370 gram

True value = 1000 gram

Gain% = [370/(1000 - 370)] × 100

⇒  (370/630) × 100

⇒  58.73% or 59%(approx)

∴ The gain percentage is Rs.59%.

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