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