A shopkeeper cheats to the extent of 8gm while buying and selling fruits, by using tampered weights. Calculate his total gain percentage.
Question
A shopkeeper cheats to the extent of 8gm while buying and selling fruits, by using tampered weights. Calculate his total gain percentage.
Solution
To solve this problem, we need to make a few assumptions since the question doesn't provide all the necessary details. Let's assume that the shopkeeper is supposed to buy and sell 1kg (or 1000gm) of fruits.
Step 1: When buying, the shopkeeper gets 1008gm of fruits but pays only for 1000gm.
Step 2: When selling, the shopkeeper sells only 992gm of fruits but receives payment for 1000gm.
Step 3: So, for every 1000gm of fruits, the shopkeeper effectively gains 16gm (8gm while buying and 8gm while selling).
Step 4: To calculate the gain percentage, we use the formula:
Gain% = (Gain / Cost Price) * 100
Here, the gain is 16gm and the cost price is 1000gm.
Step 5: Substituting the values in the formula, we get:
Gain% = (16 / 1000) * 100 = 1.6%
So, the shopkeeper's total gain percentage is 1.6%.
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