Question

A dishonest businessman defrauds to the extent 10% both in buying and in selling goods. The actual gain percent of the businessman is
1. 20%
2. 21%
3. 25%
4. None of the above

Answer 1

Correct Answer - Option 2 : 21%

Formula used

\(Gain\% =( {(100 + common gain\%)^2 \over 100} - 100 )\%\)

Calculation

Common gain = 10%

\(Gain\% =( {(100 + 10)^2 \over 100} - 100 )\%\)

\(⇒ ( {12100 \over 100} - 100) \)

⇒ 121 - 100 = 21%