A trader sells goods to a customer at a profit of k% over the cost price, besides it he cheats his customer by giving 880 g only instead of 1 kg. Thus his overall profit percentage is 25%. Find the value of k?

8.33%
8.25%
10%
12.5%

Correct Answer: 10%

Explanation:

Profit % = 25 / 100
= 120 + k (profit) / 880 (sale)
∴ k = 100
Therefore, net profit % = (100 / 1000) X 100 = 10%

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