Multiple choice

The ratio of cost price and selling price of an article is 20 : 21. Then gain percent on it is

  1. 25%

  2. 5%

  3. 6%

  4. 16%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Cost price (CP) to Selling price (SP) ratio is 20:21. Gain = SP - CP = 21 - 20 = 1. Gain percent = (Gain / CP) * 100 = (1 / 20) * 100 = 5%.

AI explanation

Given the ratio of the cost price to the selling price is 20 : 21, let the cost price be 20 and the selling price be 21. The gain is the difference between the selling price and the cost price, which is 21 minus 20, equaling 1. Using the profit percentage formula, the gain percent is calculated as (1 / 20) multiplied by 100. This yields a gain of 5%.

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