Formulae Error in Weight Profit and Loss || Lesson 13.4 || Aptitude & Reasoning || Learning Monkey |
Formulae Error in Weight Profit and Loss
In this class, We discuss Formulae Error in Weight Profit and Loss.
The reader should know the basic formulae of profit and loss. Click Here.
Formulae:
If one wants to sell his goods at cost price but uses false weights, then the gain percentage is
Gain% = [error/(True value – error)]*100%
First, we take an example to understand the concept of formulae.
Example:
Assume 1000 grams = 100 rupees
In the formulae, we are finding the gain percentage.
When finding percentages, we can choose any values. The percentage will stay the same.
Assume 40 grams error in weight.
So 960 grams sold at 100 rupees.
1000 grams cost = x
x = (100 * 1000)/960
x = 104.1
The actual cost is 100 rupees for 1000 grams.
Gain% = 4.1
Gain% = [error/(True value – error)]*100%
Gain% = [40/(1000-40)]*100%
Gain% = 40/960 *100
40 grams out of 960 because 960 grams sold at cost price.
So the denominator is true value – error. Because (True value – error) weight sold for cost price.
= 40/960 * 100 = 4.1%
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