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A trader claims to sell rice at a profit of 74%, but also dishonestly uses a weight which is 9% less than what is mentioned on it. Find the total percentage of profit earned by the trader. (Round the answer to the nearest whole number.)
87%
91%
89%
94%
91%
Use the formula: Total Profit % = ((100 + Claimed Profit%) / (100 - Weight Error%)) * 100 - 100. Here: ((174 / 91) * 10тБ░) - 100 тЙИ 91.2%.
Trader claims profit = 74%, Weight error = 9% less than true weight.
Profit%=(100тИТW100+P1тАЛтАЛ├Ч100тИТ100)%
Use the formula: Total Profit % = ((100 + Claimed Profit%) / (100 - Weight Error%)) * 100 - 100. Here: ((174 / 91) * 10тБ░) - 100 тЙИ 91.2%.
Many students wrongly assume total profit is 74% - 9% = 65% or 74% + 9% = 83%, ignoring the base change caused by the false weight.
Define Cost and Sale variables
Assume the true weight of 100 units has a cost of 100. The trader sells this at a 74% profit, so the selling price is 174.
Cost=100,Selling┬аPrice=174
Account for false weight
The trader uses a weight 9% less than intended, meaning he actually gives only 91 units of weight while charging for 100. Thus, his actual cost price for the weight sold is 91.
Actual┬аCost┬аPrice=91
Calculate Profit Percentage
Actual profit is the difference between Selling Price (174)andActualCost(91). Profit % = ((174 - 91) / 91) * 100.
Profit%=(9183тАЛ)├Ч100тЙИ91.208%
Final Rounding
Rounding 91.208% to the nearest whole number gives 91%.
91%
B is correct because the effective profit percentage calculated from the actual cost of goods sold is approximately 91.2%, which rounds to 91%.
This concept is a classic in Quantitative Aptitude; always identify the 'Actual Cost' by reducing the base value by the percentage of weight shortage.