Question

A dishonest dealer professes to sell his goods at cost price but he uses a weight of 960 g for 1 kg .Find his gain percent.

Answer 1

Gain% (Percentage gain) = [(Error)/{(True Value) – (Error)}]×100%.

Here the “error” is the difference between the true value and the fabricated value. Thus error = 1000 gm (1 kg) – 960 gms = 40 gms. Thus substituting this in the formula for the dishonest dealer, we have:

Gain% = [(Error)/(True Value) – (Error)] × 100% = 4(1/6)% = 4.167%.