An article was sold at 11/8 times of its cost price. The profit percent is:

SSC GD 2021 PYQ — Question 64

An article was sold at $\frac{11}{8}$ times of its cost price. The profit percent is:

Show answer & explanation

Correct answer: C

Explanation

The correct answer is option 3 i.e. 37.5%

Let's assume the CP = x

SP = 11x/8

Profit percentage = {(11x/8) - x}/x × 100

= {(3x/8)/x} × 100

= 75/2 = 37.5%