Question : If the cost price is 95% of the selling price, what is the profit percentage?
Option 1: 4%
Option 2: 4.75%
Option 3: 5%
Option 4: 5.26%
Correct Answer: 5.26%
Solution :
Given: The cost price is 95% of the selling price.
The formula of Profit % is:
Profit % = $\frac{\text{selling price – cost price}}{\text{cost price}}$ × 100%
CP = 95% of SP
⇒ CP = $\frac{95}{100}$SP
⇒ SP : CP = 20 : 19
Let, SP – CP = 20 – 19 = 1 unit.
Profit % = $\frac{1}{19}$ × 100 = 5.26% (approx)
Hence, the correct answer is 5.26%.
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