A man sold a radio set and gained one-eighth of its cost price. What is the profit percent?
Answer & explanation
Correct answer: option 2
Given = \(\frac{Profit}{CP}\) = \(\frac{1}{8}\)
Gain % = \(\frac{1}{8}\) × 100 = 12.5%
A man sold a radio set and gained one-eighth of its cost price. What is the profit percent?
Correct answer: option 2
Given = \(\frac{Profit}{CP}\) = \(\frac{1}{8}\)
Gain % = \(\frac{1}{8}\) × 100 = 12.5%