A seller uses 840 g in place of 1 kg to sell his goods. If he sells the goods 4% less than the cost price of 1 kg, What is the actual profit or loss% for the seller.

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525%

754%

1007%

635%

answer is C.

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Detailed Solution

Concept- First, we will assume the cost price of 1kg of goods, and find the cost price of 850 g of goods. Then, we will apply a discount on cost price of 1kg goods to find the new cost price for 1kg goods. This new cost price of 1kg goods will be the new selling price of 840 g good.
To find the profit/loss, we will subtract cost price of 840 g of goods from new selling price of 840 g of goods. Further, calculate the profit/ loss %.
Assume, the cost price of 1 kg goods to be Rs.x The actual cost price of 840 g goods as Rs. 0.84x Now, a 4% discount is given on 1kg goods New cost price of 1kg goods is 96% of x =96100x=0.96x
But, new cost price = selling price of 840 g goods
To check profit or loss, we will subtract selling price from cost price Selling price- Cost price = Rs. 0.96x-Rs. 0.84x
= Rs. 0.12x S.P > C.P. ∴ Profit
Profit% = ProfitCost Price ×100%
Profit% = 0.12x0.84x×100%
Profit% = 1007 %
Hence, the correct answer is 3) 1007%.

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