If the ratio of cost price and selling price of an article be as 10 : 11, the percentage of profit is 

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WEBCSC 05/2021 Common Official Paper (Morning Shift)
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  1. 8
  2. 10
  3. 11
  4. 15

Answer (Detailed Solution Below)

Option 2 : 10
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Given:

Ratio of cost price (CP) to selling price (SP) = 10 : 11

Formula Used:

Percentage of Profit = (SPCPCP)×100

Calculation:

Let the cost price (CP) be 10 units and the selling price (SP) be 11 units.

Profit = SP - CP

⇒ Profit = 11 - 10

⇒ Profit = 1 unit

Percentage of Profit = (110)×100

⇒ Percentage of Profit = 10%

The percentage of profit is 10%.

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