Select the correct answerThe ratio of cost price and selling price of an article is 20 : 21. The gain percent on it is?Options46105
Question
Select the correct answerThe ratio of cost price and selling price of an article is 20 : 21. The gain percent on it is?Options46105
Solution
The ratio of the cost price (CP) to the selling price (SP) is given as 20:21.
Step 1: Understand the ratio This means that if the cost price is 20 units, then the selling price is 21 units.
Step 2: Calculate the gain The gain is the difference between the selling price and the cost price. So, Gain = SP - CP = 21 units - 20 units = 1 unit.
Step 3: Calculate the gain percentage The gain percentage is calculated as (Gain/CP)*100. Substituting the values we have, Gain% = (1/20)*100 = 5%.
So, the gain percent on the article is 5%.
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