Question

A cloth merchant uses 120cm scale while buying,instead a meter scale ,but uses an 80 cm scale while selling the same cloth. If he offers a discount of 20% on cash payment. Find the profit percent.

Answer 1

Let the cost price be $C/1m$

Then actual purchase price(per m) $=\frac{C}{1.2}$ $=\frac{5}{6}C$

And actual sale price $=\frac{C}{0.8}\times \frac{4}{5}$ $=C$

Thus Profit%=$16.6$%