Question

Monu is a dishonest shopkeeper who has a shop of milk. While purchasing, he takes 20% extra quantity than indicated and while selling he sells 20% less than indicated. If he sells milk at its cost price, find his actual profit or loss percent.
1. Profit of 45%
2. Loss of 40%
3. Profit of 50%
4. Loss of 50%

Answer 1

Correct Answer - Option 3 : Profit of 50%

Given:

While buying, Monu takes 20% extra

While selling, Monu gives 20% less

Formula Used:

Profit = SP - CP

Profit % = (Profit/CP) × 100

Calculation:

Let the cost price of milk be Rs. 1/ml

Let he purchases 100 ml

He takes 20% extra

Instead of 100 ml he takes 120 ml

Cost price of 120 ml = Rs. 100

While selling he gives only 80 ml and charges for 100 ml

Cost price of 80 ml = Rs. (80/120) × 100

⇒ Rs. (200/3)

Selling price of 80 ml = Rs. 100

Profit = SP - CP

⇒ 100 - (200/3)

⇒ Rs. (100/3)

Profit % = (Profit/CP) × 100

⇒ [(100/3)/(200/3)] × 100

⇒ 50%

 ∴ The actual profit percent of Monu is 50%.