Question
A fruit seller receives 1.12 kg of fruit from the
supplier for every 1 kg he pays for, but sells only 0.7 kg of fruit to his customers while charging them for 1 kg. What is the percentage profit made by the seller?Solution
Let actual price of 1 kg fruits = â‚ą100
Cost price of 1.12 kg fruits = â‚ą100
Cost price of 1 kg fruits = 100/1.12 = 25/2.8 = 625/7
Selling price of 0.7 kg of fruits = â‚ą100
Selling price of 1 kg fruits = 100/0.7 = 1000/7
Profit % = {(1000/7) – (625/7)/(6255/7}) x 100 = 60%
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