The selling price of a desktop is 9 times of the profit earned on selling this desktop. What is the profit percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 12.5%
Profit = Selling price - Cost price
Profit% = (Profit/Cost price)
According to the question;
⇒ Selling price = 9 × (Selling price - Cost price)
⇒ SP = 9SP - 9CP
⇒ 9 CP = 8 SP
⇒ CP/SP = 8/9
Let the CP and SP be 8x and 9x.
Profit = 9x - 8x = x
Required profit percentage = (x/8x) × 100 = 12.5%