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Profit and Loss

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  1. 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%
Correct Option: A

Let Cost price = 10k
Selling price = 11k
Gain = Selling price - Cost price = 11k - 10k = k

∴ Gain percent =
k
 × 100
10k

Gain percent =
1
 × 100 = 10%
10


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