The ratio of cost price and selling price of an article is 20 : 21. Then gain percent on it is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 5
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Understanding |
Application |
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The ratio of cost price and selling price of an article is 20 : 21. We know: Profit = [(SP – CP)/CP] × 100 |
Hence, Gain percentage = [(21 – 20)/20] × 100 = 5% |