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A tradesman by means of his false balance defrauds to the extent of 20%? in buying goods as well as by selling the goods. What percent does he gain on his outlay?

Correct answer: C. 44%

  • A. 20%
  • B. 45%
  • C. 44%
  • D. 48%

Explanation

A 20% advantage while buying makes goods worth Rs.1.20 for every Rs.1.00 spent. A further 20% advantage while selling multiplies this by 1.20, so the return is Rs.1.20 x Rs.1.20/Rs.1.00 = Rs.1.44 per Rs.1.00 outlay, giving a gain of 44%. Students often choose 40% by adding the two 20% gains instead of compounding them.

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Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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