A dishonest milkman buys milk at Rs 24 per litre and adds 1/3 of water to it and sells the mixture at Rs 32 per litre. What is his gain?
The milkman adds $$(\frac{1}{3})^{rd}$$ of water, thus total mixture = $$1+\frac{1}{3} = \frac{4}{3}$$
Cost price per litre of the mixture = $$\frac{24}{\frac{4}{3}} = 24 \times \frac{3}{4} = Rs. 18$$
Selling price per litre = Rs. 32
$$\therefore$$ Profit % = $$\frac{32-18}{18} \times 100$$
= $$\frac{700}{9} \approx 77.78\%$$
=> Ans - (C)
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