Math Problem Statement

A trader cheats both his supplier and customer by using faulty weights. When he buys from the supplier, he takes 10% more than the indicated weight. When he sells to his customer, he gives the customer a weight such that 10% of that is added to the weight, the weight claimed by the trader is obtained. If he charges the cost price of the weight that he claims, find his profit percentage.

Solution

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Math Problem Analysis

Mathematical Concepts

Arithmetic
Percentage
Profit and Loss

Formulas

Profit Percentage Formula: \( \text{Profit Percentage} = \left(\frac{\text{SP} - \text{CP}}{\text{CP}}\right) \times 100 \)

Theorems

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Suitable Grade Level

Grades 7-9