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A dishonest tailor uses an incorrect measuring tape to get 10% more fabric while buying. He uses a different measuring tape that gives 20% less fabric than promised when selling. If the stated selling price is the same as the cost price, what is his overall profit or loss percentage?
Suppose the tailor buys 100x meters of cloth.
In actuality, he gets 100x * 1.1 = 110x m of cloth.
Further, when selling he sells, 20% less fabric so if a person asks him 100x of cloth, he would sell him only 80x.
Hence, the total profit made by him = (110x/80x - 1) * 100 = 37.5%
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