Question

Mayank is a dishonest dealer who sells his goods at 15% loss on cost price but uses 20% less weight. What is his actual profit or loss percentage?
1. 12.5%
2. 25%
3. 6.25%
4. 10%

Answer 1

Correct Answer - Option 3 : 6.25%

Given:

Mayank uses 20% less weight.

Mayank sells at 15% loss

Formula Used:

Selling price = Cost price × (100 - loss%)/100

Profit = SP - CP

Profit % = (Profit/CP) × 100

Calculation:

Mayank uses 20% less weight so instead of 1000 grams he gives only 800 grams.

Let the cost price of 1000 grams be Rs. 100

Cost price of 800 grams = Rs. (800/1000) × 100

⇒ Rs. 80

Mayank sells his goods at 15% loss

Selling price = Cost price × (100 - loss%)/100

⇒ 100 × (100 - 15)/100

⇒ Rs. 85

Profit = SP - CP

⇒ 85 - 80

⇒ Rs. 5

Profit % = (Profit/CP) × 100

⇒ (5/80) × 100

⇒  6.25%

∴ The actual profit percentage of Mayank is 6.25%.