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A shopkeeper marks his goods 20% above t...

A shopkeeper marks his goods 20% above the CP and gives 10% discount to the customers. At the time of selling the goods he uses 900 gm weight instead of 1 kg and at the time of bying he uses 1100 gm instead of 1 kg. Find his profit.

A

0.32

B

0.31

C

0.33

D

0.35

Text Solution

AI Generated Solution

The correct Answer is:
To find the profit made by the shopkeeper, we will go through the problem step by step. ### Step 1: Determine the Cost Price (CP) Let’s assume the Cost Price (CP) of 1 kg of goods is \( CP \). ### Step 2: Calculate the Marked Price (MP) The shopkeeper marks his goods 20% above the CP. Therefore, the Marked Price (MP) can be calculated as: \[ MP = CP + 0.20 \times CP = 1.20 \times CP \] ### Step 3: Calculate the Selling Price (SP) The shopkeeper gives a 10% discount on the Marked Price. Thus, the Selling Price (SP) is: \[ SP = MP - 0.10 \times MP = 0.90 \times MP = 0.90 \times (1.20 \times CP) = 1.08 \times CP \] ### Step 4: Determine the effective weight sold The shopkeeper sells 900 grams instead of 1 kg (1000 grams). Therefore, the Selling Price for 900 grams is: \[ SP_{900g} = 1.08 \times CP \] ### Step 5: Determine the effective weight bought The shopkeeper buys 1100 grams instead of 1 kg (1000 grams). Therefore, the Cost Price for 1100 grams is: \[ CP_{1100g} = CP \times \frac{1100}{1000} = 1.1 \times CP \] ### Step 6: Calculate the total cost for 900 grams To find the cost price for 900 grams, we can calculate it as follows: \[ CP_{900g} = CP \times \frac{900}{1000} = 0.9 \times CP \] ### Step 7: Calculate the Profit Now we can calculate the profit made by the shopkeeper: \[ \text{Profit} = SP_{900g} - CP_{900g} \] Substituting the values we have: \[ \text{Profit} = (1.08 \times CP) - (0.9 \times CP) = 0.18 \times CP \] ### Step 8: Calculate the Profit Percentage To find the profit percentage, we use the formula: \[ \text{Profit Percentage} = \left( \frac{\text{Profit}}{\text{Cost Price}} \right) \times 100 \] Substituting the profit we calculated: \[ \text{Profit Percentage} = \left( \frac{0.18 \times CP}{0.9 \times CP} \right) \times 100 = \left( \frac{0.18}{0.9} \right) \times 100 = 20\% \] ### Final Answer The profit percentage of the shopkeeper is **20%**.
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