Question : If the cost price and selling price of an article are in the ratio 10 : 11, then the percentage of profit is:
Option 1: 10%
Option 2: 9%
Option 3:
3%
Option 4: 1%
Correct Answer: 10%
Solution :
The profit percentage can be calculated using the formula:
$\text{Profit percentage} = \frac{\text{Selling price} - \text{Cost price}}{\text{Cost price}} \times 100$
Given that the cost price (CP) and selling price (SP) of an article are in the ratio 10 : 11.
Let,
$\text{CP} = 10x$
$\text{SP} = 11x$
Substituting these values,
$\text{Profit percentage} = \frac{11x - 10x}{10x} \times 100 = 10$%
Hence, the correct answer is 10%.
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