If the ratio of cost price and selling price of an article be 10 : 11, the percentage of profit isOptions101141213
Question
If the ratio of cost price and selling price of an article be 10 : 11, the percentage of profit isOptions101141213
Solution
The ratio of the cost price (CP) to the selling price (SP) is given as 10:11.
This means that if the cost price is 10 units, then the selling price is 11 units.
The profit is calculated as the selling price minus the cost price. In this case, the profit would be 11 units - 10 units = 1 unit.
To find the profit percentage, we use the formula:
Profit % = (Profit / CP) * 100
Substituting the given values into the formula, we get:
Profit % = (1 / 10) * 100 = 10%
So, the percentage of profit is 10%.
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