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A businessman cheats by using faulty weights to the tune of...

This question belongs to Arithmetic Ability Profit And Loss
Profit and Loss
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A businessman cheats by using faulty weights, to the tune of 12% each time, when buying and selling material. What is the rise in his profit percentage using faulty weights only?

Answer & Solution
Correct Answer: Option B
$$\eqalign{ & {\text{Profit }}\% = 12 + 12 + \frac{{12 \times 12}}{{100}} \cr & = 24 + 1.44 \cr & = 25.44\% \cr} $$
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