Question

A dealer decided to sell his goods at cost price but he uses a weight of 920 gm. For 1 kg weight, what is his approximate gain percentage?

1. 10%
2. 9.5%
3. 8%
4. 9%
5. 12%

Answer 1

Correct Answer - Option 4 : 9%

Given: 

A dealer decided to sell his goods at cost price but he uses a weight of 920 gm.

Formula used:

\(Gain\;\% = \left[ {\frac{{error}}{{true\;value - error\;}} \times 100} \right]\)

Calculations:

True value = 1 kg = 1000 gm

Error = 1000 – 920 = 80

⇒ [\(\frac{{80}}{{1000 - 80\;\;}} \times 100\)]%

⇒ 8.695%

⇒ 9%

∴ His approximate gain percentage is 9%.