Question : The selling price of a desktop is 9 times the profit earned on selling this desktop. What is the profit percentage?
Option 1: 10%
Option 2: 12.5%
Option 3: 11.11%
Option 4: 8.33%
Correct Answer: 12.5%
Solution :
Let's the cost price of the desktop as $C$, the profit as $P$, and the selling price as $S$
Selling Price = Cost Price + Profit
⇒ $S = 9P$
⇒ $C + P = 9P$
⇒ $C = 8P$
So, Profit % = $\frac{Profit}{Cost Price}$×100 = $\frac{P}{8P}$ ×100 = 12.5%
Hence, the correct answer is 12.5%.
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