Multiple choice

The ratio of cost price and selling price of an article is 20 : 21. What is the profit percent on it?

  1. 5%

  2. 6.25%

  3. 7.5%

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

CP/SP = 20/21. Profit = 1 unit. Profit % = (1/20) * 100 = 5%.

AI explanation

Let the cost price be 20 and the selling price be 21 based on the given ratio. The profit is calculated as 21 - 20 = 1. Using the profit percentage formula, (Profit / Cost Price) * 100, we get (1 / 20) * 100 = 5%. The profit percent is 5%.

Keep practicing — related questions