The selling price of 5 articles is equal to 6 times the cost price. What is the loss/profit percentage?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Profit of 20%.
Let CP of 1 article = 1
So, CP of 5 articles = 5
SP of 5 articles = 6 × 1 = 6
Profit = 6 - 5 = 1
Profit percentage = (1/5) × 100 = 20%