Multiple choice

Choose the correct answer from the alternatives given : If the cost price and selling price of an article are in the ratio 10: 11 then the percentage of profit is

  1. $10\%$
  2. $9\%$
  3. $3\%$
  4. $1\%$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Profit = Selling Price - Cost Price = 11 - 10 = 1. Profit percentage = (Profit / Cost Price) * 100 = (1 / 10) * 100 = 10 percent.

AI explanation

Using the formula for profit percentage, Profit Percent = (Profit / Cost Price) x 100. Assuming the cost price is 10 and the selling price is 11 based on the ratio, the profit is 11 - 10 = 1. Therefore, the profit percent is (1 / 10) x 100, which equals 10%.

Keep practicing — related questions