A balance of a trader weighs 10% less than it should be.
Posted on 30-03-2023
Ques - A balance of a trader weighs 10% less than it should be. Still the trader marks-up his goods to get the overall profit of 20%. What is the markup on the cost price?
(a) 40%
(b) 8%
(c) 25%
(d) 16.66%
Solution -
Let,
The CP of 1kg = 1000
But,
He weighs 900 g for every 1000 g.
The CP of 900 g = 900
Now,
Let,
The mark up = x%
MP = [1000 + (1000x / 100)]
MP = (1000 + 10x)
But,
SP = MP
SP = (1000 + 10x)
So,
Profit % = [(SP - CP) / CP] × 100
The overall profit of 20%.
20 = [(1000 + 10x - 900} × 100] / 900
20 = ( 100 + 10x ) / 9
20 = ( 100 + 10x ) / 9
180 = 100 + 10x
180 - 100 = 10x
80 = 10x
x = 8
Thus,
The Markup is 8%.
Hence,
The correct answer is option (b) 8%.
Thank You