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    Question

    To clear his stock of rice, Sunil starts giving 1.2 kg

    of rice to customers in place of 1 kg. However, he secretly uses an 800-gram weight instead of a 1 kg weight while measuring. What is Sunil's net profit or loss in this transaction?
    A 4% gain Correct Answer Incorrect Answer
    B 3.5% loss Correct Answer Incorrect Answer
    C No gain no loss Correct Answer Incorrect Answer
    D 2% loss Correct Answer Incorrect Answer
    E 4.16% gain Correct Answer Incorrect Answer

    Solution

    According to the question when he is giving 1.2kg of rice at the selling price of 1 kg.

    Let the selling price of rice = Rs 1000a

    According to the question Sunil is using 800 gm weight instead of 1 kg weight.

    Hence actual weight of 1.2 kg of rice = (800/1000 X 1200) gm = 960 gm

    Therefore actual cost price of 1.2 kg of rice = Rs 960a

    Therefore profit % = 40/960 X 100 = 4.16%

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