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Rice Problem

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Rice Problem

by knight247 » Tue Jan 03, 2012 12:05 pm
James buys rice at $10/kg and put a price tag on it so as to earn a profit of 20%. However, his faulty balance shows 1000gm when it is actually 800gm. What is his actual gain percentage?
(A)50%
(B)40%
(C)18%
(D)10%
(E)42%

No OA. Sorry.
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by shankar.ashwin » Tue Jan 03, 2012 12:11 pm
Selling price @ 20% profit = $12


Now $10 is CP for 1kg.

For 800gms, CP = 0.8 * 10 = 8

Now rice worth $8 is sold for $12

% gain = (12-8)/8 = [spoiler]50%[/spoiler]IMO
Last edited by shankar.ashwin on Tue Jan 03, 2012 12:46 pm, edited 1 time in total.
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by klmehta03 » Tue Jan 03, 2012 12:39 pm
Wouldnt the selling price of rice be 12 $/kg after 20% profit???
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by shankar.ashwin » Tue Jan 03, 2012 12:47 pm
Yeah.. Corrected it
klmehta03 wrote:Wouldnt the selling price of rice be 12 $/kg after 20% profit???
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