The ratio of cost price and selling price of an article is 20 : 21. The gain percent on it is?Options45610
Question
The ratio of cost price and selling price of an article is 20 : 21. The gain percent on it is?Options45610
Solution
The ratio of the cost price (CP) to the selling price (SP) is given as 20:21.
Step 1: Let's assume the cost price (CP) to be 20x and the selling price (SP) to be 21x.
Step 2: The gain is calculated as the difference between the selling price and the cost price. So, Gain = SP - CP = 21x - 20x = x.
Step 3: The gain percentage is calculated as (Gain/CP)*100. Substituting the values we get, (x/20x)*100.
Step 4: Simplifying this we get the gain percentage to be 5%.
So, the gain percent on the article is 5%.
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