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A trader by means of a false balance defrauder to the extent of 8% in buying goods and also defrauds to 8% in selling. His gain percent is?

15.48%
16%
16.64%
None of these

Correct Answer: 16.64%

Explanation:

In such question we adopt the Required gain %
= [(100 + common gain%)² / 100 - 100] %
= { (108)²/100 - 100 } % = 16.64%

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