The cost price of an article is 16% less than its selling price. What is the profit or loss percentage (to the nearest integer)?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. Profit, 19%.
CP = SP − 16% of SP = SP × (1 − 0.16) = 0.84 × SP
Let’s assume SP = ₹100
Then CP = ₹84
Profit = SP − CP = 100 − 84 = ₹16
Profit% % = 16/84 × 100 ≈ 19.05% or 19%