Question : Pankaj sells an article and earns a profit of 55 percent. What will be the ratio of cost price and selling price?
Option 1: 20 : 37
Option 2: 17 : 25
Option 3: 18 : 25
Option 4: 20 : 31
Correct Answer: 20 : 31
Solution :
We know, Profit percent = $\frac{\text{Selling price – Cost price}}{\text{Cost price}} × 100$
Given,
Profit percent = 55%
⇒ $\frac{55}{100}=(\frac{\text{Selling price}}{\text{Cost price}}-1)$
⇒ $\frac{55}{100}+1=\frac{\text{Selling price}}{\text{Cost price}}$
⇒ $\frac{55+100}{100}=\frac{\text{Selling price}}{\text{Cost price}}$
⇒ $\frac{155}{100}=\frac{\text{Selling price}}{\text{Cost price}}$
⇒ Selling price : Cost price = 31 : 20
⇒ Cost price : Selling price = 20 : 31
Hence, the correct answer is 20 : 31.
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