The cost price of 12 articles is the same as the selling price of 8 articles. What is the profit percent?
Show answer & explanation
Correct answer: D
Explanation
Cost price of 12 items = Selling price of 8 items
Let the cost price of 1 item = ₹x
Then, the cost price of 12 items = ₹12x
Selling price of 8 items = ₹12x
Selling price of 1 item = 12x/8 = ₹1.5x
Profit = 1.5x − x = ₹0.5x
Profit percentage = (0.5x/x) × 100= 50%