Question
A grocer uses a faulty balance that balances 10kg in one pan with 11 kg in the other. He sells his product after hiking the cost price by 10%. If he cheats the farmer while buying and his customer while selling, find his actual gain in the entire transaction.
Answer: Option D
:
D
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:
D
When he cheats the farmer, on buying 10 kg, he is actually buying 11 kg at the price of 10. he always makes a profit of 10%
S.P=1.1×CP
Similarly, while selling, when he sells 10 kg, if the cost price is 10 rupees, he is selling it for 11 rupees.
Again now, SP=1.1×1.1×CP
He also professes to sell 11 kg, when he is actually selling 10 kg
SP=1.1×1.1×1.1×CP⇒33.1% overall profit
Answer is option (d) 33%
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