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Quantitative Aptitude
mediumQ. No. 4334-a-dishonest-shopkeeper-claims-to-sell-1000-grams-of-salt-but-actually-gives-only-980-grams-find

A dishonest shopkeeper claims to sell 1000 grams of salt but actually gives only 980 grams. Find the gain percentage.

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This Profit and Loss question develops correct identification of cost price, selling price, marked price, discount and the relevant percentage base in “A dishonest shopkeeper claims to sell 1000 grams of salt but actually gives only 980 grams. Find the gain percentage.”.

A4.04%
B2.04%
C9.04%
D0%
Correct Answer: 9.04%Your Answer: C

Explanation

The question-specific working supplied in the record is: Gain% = ((Claimed weight − Actual weight) / Actual weight) × 100 = ((1000 − 980) / 980) × 100 = 2.04%. Profit and loss questions become unreliable when a percentage is applied to the wrong base. A dependable check is to assume cost price 100 whenever only percentages are involved, reconstruct the selling value, and compare the resulting ratio with the selected option. This method preserves the numerical relationships in the stem and develops formula selection, percentage-base recognition and option elimination for SSC, Railway, Banking and other competitive aptitude examinations.

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FAQ

Profit and Loss FAQs

Common questions and clear answers for this topic.

Which method applies to this question?

Use actual quantity delivered and money received to form effective cost and selling values before finding profit percent.

What is the verified answer?

9.04%, option C.

Which percentage base is most important?

Profit or loss percent is based on cost price, while discount is based on marked price.

How can the answer be checked?

Reverse the percentage relation or assume a base of 100 and reconstruct the final value.

What is Profit and Loss in mathematics and what are the basic terms?

Profit and Loss is a key Quantitative Aptitude topic in SSC CGL, IBPS Bank PO, SBI PO, CAT, and Railway exams. Basic terms: Cost Price (CP) - price at which an item is purchased. Selling Price (SP) - price at which it is sold. Profit = SP - CP (when SP > CP). Loss = CP - SP (when CP > SP). Profit% = (Profit/CP) x 100. Loss% = (Loss/CP) x 100.

What is the difference between Marked Price, Selling Price, and Discount?

Marked Price (MP) is the price printed on the item before discount. Discount = MP - SP. Discount% = (Discount/MP) x 100. SP = MP x (100-Discount%)/100. If a shopkeeper marks up by 40% and gives 20% discount: SP = CP x 1.40 x 0.80 = 1.12CP = 12% profit. Profit% and Loss% are always calculated on Cost Price unless specified otherwise.

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