Math Problem Statement
A wholesaler cheats a retailer while selling rice to him by 10% (he gives 10% less rice for the same price). Ther
retailer keeps the price the same as the wholesaler but cheats his customers by 20% while selling it. What is the
percentage profit of the retailer?
Solution
Let's break down the problem step by step:
Step 1: The wholesaler cheats the retailer by 10%.
This means that if the retailer pays for 100 kg of rice, the wholesaler gives him only 90 kg.
Step 2: The retailer sells the rice to his customers but cheats by 20%.
This means that for every 100 kg of rice the retailer claims to sell, he actually only gives 80 kg to his customers.
Step 3: Assume the retailer buys rice from the wholesaler at a price of per kg.
- The retailer pays for 100 kg of rice, but due to the wholesaler's cheating, he only receives 90 kg of rice.
- So, the actual price per kg of rice that the retailer gets is:
Step 4: Now, the retailer sells this rice to his customers at the same price per kg, but he cheats by 20%.
- This means he claims to sell 100 kg to his customers but actually gives them 80 kg.
- So, for the 80 kg of rice, he charges his customers for 100 kg at the price per kg.
- He receives for 80 kg of rice.
Step 5: Calculate the selling price per kg for the rice the retailer sells to his customers:
Step 6: The profit per kg is the difference between the selling price and the actual cost price:
Step 7: To find the profit per kg, first get a common denominator for the two fractions:
Step 8: To find the percentage profit, divide the profit per kg by the cost price per kg, then multiply by 100:
Final Answer:
The retailer's percentage profit is 12.5%.
Do you want details on any specific step or have more questions?
Here are 5 relative questions for further practice:
- What would the retailer's profit be if he cheated his customers by 25% instead of 20%?
- How does the wholesaler's cheating affect the retailer's total profit?
- What if the wholesaler reduced the amount of rice by 15%? What would the new profit percentage be for the retailer?
- If the retailer decided not to cheat his customers, what would his profit or loss be in this scenario?
- What happens to the profit margin if the retailer increased his selling price by 10%?
Tip: When working with percentages and profit problems, always define variables clearly for easier manipulation of equations.
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Math Problem Analysis
Mathematical Concepts
Percentage
Profit Calculation
Fractions
Formulas
Cost per kg = 100P / 90 = 10P / 9
Selling price per kg = 100P / 80 = 5P / 4
Profit per kg = (5P / 4) - (10P / 9)
Percentage profit = (Profit per kg / Cost per kg) * 100
Theorems
-
Suitable Grade Level
Grades 10-12
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