By selling 67 articles, a person gets the profit equal to selling price of 7 articles. Find profit percent.
Answer & explanation
Correct answer: option 1
Profit = S.P. - C.P.
ATQ,
⇒ S.P. of 7 = S.P. of 67- C.P. of 67
⇒ C.P. of 67 = S.P. of 60
⇒ C.P. : S.P. = 60 : 67
Profit = 7R
Profit percent = \(\frac{7}{60}\) × 100 = 11\(\frac{2}{3}\)%