Quant Question Of The Day: 224
A sugar mill owner adds 20% impurities in his product and cheats the consumer by 30% while selling. He claims to sell the items on cost price?
What is the % profit he is making?
50%
0%
20%
71%
A sugar mill owner adds 20% impurities in his product and cheats the consumer by 30% while selling. He claims to sell the items on cost price?
What is the % profit he is making?
50%
0%
20%
71%
Answer: (4) 71% Solution; Let’s say cost for 100gm is 100 Rupees He adds 20% impurity. So now total qty is 120gms. Now he cheats the consumer by 30%. It means he recovers 100 rupees by selling 70gms. Hence his profit is remaining 50 gms over 70gms hence profit% = 50/70*100% = 71%
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