Question

A dishonest seller sells his goods at 15% loss on cost price but uses 25% less weight. What is his profit or loss percent?
1. 12% Gain
2. 13.33% gain
3. 12% loss
4. 13.33% loss
5. 16.66% gain

Answer 1

Correct Answer - Option 2 : 13.33% gain

(i) Profit (a) = 15%

(ii) Less weight (b) = 25%

Formula used:

(i) Profit/loss percent = (b ± a)/(100 - b) × 100

Calculations:

⇒ Profit (a) = 15%

⇒ Less weight (b) = 25%

According to the formula

Required Percentage = (b ± a)/(100 - b) × 100

⇒ (25 – 15)/(100 - 25) × 100

⇒ 10/75 × 100

⇒ 40/3

⇒ 13.33% gain.