Question : If the ratio of the cost price and selling price of an article is 20 : 21, then what will be the profit percent?
Option 1: 5%
Option 2:
4.5%
Option 3:
6%
Option 4:
7.5%
Answer (1)
22nd Jan, 2024
Correct Answer: 5%
Solution :
The ratio in cost price (CP) and selling price (SP) = 20 : 21
Let CP = Rs. 20 and SP = Rs. 21
Gain = SP – CP = Rs. 21 – 20 = Re. 1
Gain% = $\frac{\text{Total gain}\times 100}{\text{Cost price}}=\frac{1\times 100}{20}$ = 5%
Hence, the correct answer is 5%.
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