Question

A dishonest shopkeeper sells the sugar at cost price but he uses 13% less weight. What is approximate percent of profit or loss?

1. 16%
2. 12%
3. 15%
4. 13.5%
5. 17%

Answer 1

Correct Answer - Option 3 : 15%

Given:

A dishonest shopkeeper sells the sugar at cost price but he uses 13% less weight.

Formula used:

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

Calculations:

Let the true value be 1000 gm

⇒ \(\left[ {\frac{{130}}{{1000\; - 130}} \times 100} \right]\)%

⇒  14.94%  

⇒  15%

∴ The approximate percent of profit is 15%.