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Commercial gold (22 parts of 24 is gold) was bought by Raj at Rs. 3300/gram. But the dishonest seller sells a poor quality of gold (a part of 24). When Ramesh resells the gold after the gold price appreciates by 10%, he loses 10%. If the dealer can sell honestly and get 10% profit, what is the profit (%) the dealer earns dishonestly?

Commercial gold (22 parts of 24 is gold) was bought by Raj at Rs. 3300/gram. But the dishonest seller sells a poor quality of gold (a part of 24). When Ramesh resells the gold after the gold price appreciates by 10%, he loses 10%. If the dealer can sell honestly and get 10% profit, what is the profit (%) the dealer earns dishonestly? Correct Answer 34 4/9

Cost of original gold = Selling price × 100/ (100 + Profit)

⇒ 3300 × 100/ (100 + 10)

⇒ Rs. 3000

Cost of a parts of 24 gold = 3000/22 × a

⇒ 1500a/11

Selling price per a gram after appreciation = (100 + 10) /100 × 3300

⇒ Rs. 3630

Selling price of ‘a part of 24’ gram = 3630 × a/22

⇒ 165a

Loss made = 18 2/11% (200/11)

⇒ (3300 – 165a) /3300 × 100 = 10

⇒ (3300 – 165a) /330 = 1

⇒ 3300 – 165a = 330

⇒ 2970 = 165a

⇒ a = 18

Now,

Cost of ‘a part of 24’ gold = 18/22 × 3000

⇒ 27000/11

Selling price = Rs. 3300

Profit% = (3300 – 27000/11)/(27000/11) × 100

⇒ 34 4/9%

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