A vendor claims to sell wheat at a loss of 20%. But he cheats by using weights that weigh 40% less than what is mentioned on them. What is his profit percentage (rounded off to 2 decimal places)?

Correct option is C

Given:

Vendor claims a loss of 20%.

He uses weights that are 40% less, i.e., he gives only 60% of the actual quantity

Formula Used:

Actual Profit % = $$\left[ \frac{(100 - \text{Loss \%}) \times 100}{\text{Quantity Given \%}} \right] - 100$$​

Solution:

Actual Profit % = $$\left[ \frac{(100 - 20) \times 100}{60} \right] - 100$$​

= $$\left[ \frac{80 \times 100}{60} \right] - 100$$​

= $$\left[ \frac{8000}{60} \right] - 100$$​

= 133.33 - 100

= $$33.33\%$$  

Alternate Method: 

Profit On 60 is 20 

Profit % = $$\frac{20}{60}\times100 = \frac{100}3 = 33.33$$%​