A dishonest shopkeeper uses false weights while buying and selling goods and cheats 20% each on selling and buying. What is his total gain percent?

A dishonest shopkeeper uses false weights while buying and selling goods and cheats 20% each on selling and buying. What is his total gain percent? Correct Answer 50%

Given:

Cheats while buying = 20%

Cheats while selling = 20%

Formula used:

Profit = total selling price – total cost price

Calculation:

Let the shopkeeper buy 500 gm goods.

Now, he uses false weights and cheats 20% on buying

So, his actual purchase = 500 - = 400 gm

Now, he uses false weights and cheats 20% on selling

So, his actual sale = 500 + = 600 gm

Gain = 600 – 400 = 200 gm

So, gain percent = (200/400) × 100 = 50%

∴ His total gain is 50%.