Civil Service Exam Reviewer · Simple Interest and Profit/Loss · hard
A dishonest vendor claims to sell rice at cost price but uses a weight of 900 g instead of 1 kg. What is his actual percent gain?
- 11.11%
- 10%
- 11%
- 22.22%
Answer
A. 11.11%
Solution
He gives 900 g but charges for 1000 g. Gain = 100/900 × 100 = 11.11%.
More Simple Interest and Profit/Loss questions
- Two phones were each sold for ₱17,800. One was sold at a 40% gain and the other at a 40% loss (both on cost). What was the overall result?
- An appliance has a cash price of ₱165,000. On installment, the buyer pays 25% down and the balance plus 6% per year simple (add-on)…
- What is the difference between the compound interest (compounded annually) and the simple interest on ₱27,000 at 8% for 2 years?
- ₱100,000 is invested at 4% compounded annually. How much is the compound interest after 3 years?
- A 1-year loan of ₱140,000 has its 12% interest deducted in advance. What is the effective (true) interest rate on the money received?
- A borrower signs a 3-month note for ₱180,000 at a bank discount rate of 15% (interest deducted in advance). How much does the borrower…
- In how many years will money triple itself at 8% simple interest per year?
- A fruit dealer buys 59 crates of mangoes at ₱3,700 per crate. 26 crates spoil and are thrown away. The rest are sold at ₱7,940 per crate…
- Liza deposited ₱49,000 in one bank at 4% and ₱41,000 in another at 12% simple interest. What is the average (overall) rate of return per…
- What is the effective annual interest rate of 16% compounded quarterly?