Isaac uses three different weights, one each of 1 kg, 2 kg and 5 kg. However, the 2 kg weight that he has is actually equivalent to 1.75 kg. Isaac sells the items at no profit no loss. A customer came to buy 3 kg sugar. The cost price of sugar is Rs. 70 per kg. To measure 3 kg sugar, Isaac placed sugar and 2 kg weight on one side, and 5 kg weight on other side of the balance. How much gain or loss will Isaac make in this transaction?
Solution
Correct Answer: Option A
The cost price of sugar is Rs. 70 per kg. Isaac sells the items at no profit no loss.
∴ Selling price will also be Rs. 70 per kg.
To measure 3 kg sugar, Isaac placed sugar and 2 kg weight on one side, and 5 kg weight on other side of the balance. Since, the 2 kg weight that he has is actually equivalent to 1.75 kg, to make the balance equal he needs to put 3.25 kg of sugar, as 5 – 1.75 = 3.25.
∴ Instead of giving 3 kg sugar, he gave 3.25 kg of sugar and took money for 3 kg only.
Cost price = Amount of sugar given × Cost price of 1 kg sugar = 3.25 × 70 = 227.5
Selling price = Amount of sugar for which money is taken × Cost price of 1 kg sugar = 3 × 70 = 210
We know, Loss Percentage \(= \;\frac{{\left( {Cost\;price - Selling\;price} \right)}}{{Cost\;Price}} \times \;100\)
Loss Percentage \(= \;\frac{{\left( {227.5 - 210} \right)}}{{227.5}}\; \times \;100 = 7.69\)
∴ Isaac made a 7.69% loss.
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