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A shopkeeper bought an article from a wholesaler and sold it to a customer such that the ratio of selling price to cost price is 21 ∶ 20. Find the percent of loss or profit.1. 5%2. 4%3. 8%4. 10% |
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Answer» Correct Answer - Option 1 : 5% Given: Cost price (C.P.) ∶ Selling price (S.P.) = 20 ∶ 21. Formula used: Profit = S.P. – C.P. Profit % = (P/C.P.) × 100 Where P → Profit S.P. → Selling price C.P. → Cost price Calculations: Let the CP be 20x and SP be 21x. Then, Profit = 21x – 20x = x Profit % = (x/20x) × 100 = 5% ∴ The required Profit% is 5%. |
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