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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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