A shopkeeper sells rice at a discount of 6% on the marked price but uses a weight that is 25% less than the actual weight. Find his overall profit percentage.
Correct Answer :
25.3%
Solution :
The correct option is 25.3%.
To find the overall profit percentage, we need to calculate the actual money received (Selling Price) by the shopkeeper against the actual cost incurred (Cost Price) for the quantity delivered.
Step 1: Assume a standard base value for marked price and weight
Let the marked price (MP) of 1000 grams of rice be 100 units.
This means the rate is 0.1 units per gram.
Step 2: Calculate the Selling Price (SP)
The shopkeeper sells the rice at a 6% discount on the marked price.
Thus, the customer pays 94 units for the transaction.
Step 3: Calculate the Cost Price (CP) of the actual quantity delivered
The shopkeeper uses a weight that is 25% less than the actual weight.
Since 1000 grams costs 100 units, the cost price of 750 grams is:
So, the shopkeeper incurs a cost of only 75 units.
Step 4: Calculate the Profit Percentage
Profit made by the shopkeeper:
Now, calculate the profit percentage based on the cost price:
Rounding to one decimal place, the overall profit percentage is 25.3%.
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