A camel hair broker buys from locals and sells back to merchants. The broker never buys for himself, but upon receiving an order to buy, finds someone who wishes to sell, and charges 2 percent commission to each of them, thereby making 4 per cent on the transaction.
However, by juggling with his old fashioned balance scale that uses weights, he always manages to add to his profit by cheating!
Upon receiving a consignment of camel’s hair he placed the same upon the short arm of his scales, so as to make the goods weigh one ounce light to the pound, but when he came to sell it he reversed the scales so as to give one ounce to the pound short, and thus made $25 by cheating.
On one particular occasion, he makes $25 by cheating in the weight, as he buys a bundle of camel hair with a weight 1 ounce too heavy and sells with one 1 ounce too light.
In this case, how much does he pay for the goods?
If you can figure it out, enter your answer into the comments section below. Will reveal submissions in a day or 2. thanks