The ratio of the cost price to the selling price of an article is 8 : 11. What is the profit percent?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → 37.5%
A ratio can be taken as actual amounts in the same proportion, and profit per cent is taken on the cost price.
Cost price \(=\) Rs 8, selling price \(=\) Rs 11
Profit \(=11-8=\) Rs 3
Profit % \(\displaystyle =\frac{3}{8}\times100=37.5\%\)
The profit is 37.5%.