If the cost price of a book is 92% of its selling price, then what is the percentage profit on the sale of the book (correct up to two decimal places)?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 8.69%.
Let the S.P. be Rs.100
The cost price of a book is 92% of its selling price
Then, C.P. = Rs.92
Profit = 100 - 92 = Rs.8
Profit percentage = 8/92 × 100 = 8.69%