A wholesaler gives 30 articles to a retailer at the marked price of 27 articles. The retailer sells all these articles at the marked price. Find the profit percentage of the retailer.
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → 11.11%
Profit per cent is always taken on the cost price. Taking the marked price of one article as Rs 1 gives the retailer’s cost and selling price at once.
Let the marked price of one article be Rs 1
Cost price of 30 articles \(=\) marked price of 27 articles \(=\) Rs 27
Selling price of 30 articles at marked price \(=\) Rs 30
Profit \(=30-27=\) Rs 3
Profit % \(\displaystyle =\frac{3}{27}\times100=\frac{100}{9}=11\frac{1}{9}\%=11.11\%\)
The retailer’s profit is 11.11%.