Multiple choice

If the selling price of 20 articles is the same as the cost price of 23 articles, then the profit percentage is

  1. 10%

  2. 15%

  3. 17%

  4. 20%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

20 * SP = 23 * CP, so SP/CP = 23/20 = 1.15. The profit is (1.15 - 1) * 100 = 15%.

AI explanation

Let the cost price of one article be 1, making the cost price of 23 articles equal to 23. Since the selling price of 20 articles equals the cost price of 23 articles, the selling price of 20 articles is 23, meaning the selling price of one article is 23 divided by 20, which is 1.15. The profit per article is 1.15 minus 1, equaling 0.15. Using the profit percentage formula, 0.15 divided by 1 multiplied by 100 gives a profit of 15 percent.

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