A dishonest dealer cheats by 10% while buying and 10% while selling using false weights. He marks up his goods by 20% and gives a discount of 10%. Find his true overall profit percentage. MCQ with Answer and Explanation
A dishonest dealer cheats by 10% while buying and 10% while selling using false weights. He marks up his goods by 20% and gives a discount of 10%. Find his true overall profit percentage.
A dishonest dealer marks up his goods by 20% and gives a discount of 10%. Besides, he uses a faulty balance which reads 1 kg for 800g. What is his net profit percentage?
Explanation:
Let true CP of 1000g be 1000. He marks it at 1200 and sells at a 10% discount, making SP = 1080. But he gives only 800g. The actual CP for him is 800. Net Profit = 1080 - 800 = 280. Net Profit % = (280 / 800) * 100 = 35%.
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