If the ratio of selling price and cost price of an apple be 11 : 10, the percentage of profits is :
Answer & explanation
Correct answer: option 2
ATQ,
S.P. : C.P. = 11 : 10
Profit = S.P. - C.P. = 11 - 10 = 1
Profit Percent = \(\frac{Profit}{C.P.}\) × 100% = \(\frac{1}{10}\) × 100% = 10%