Ram makes a profit of 30%by selling an article. What would be the profit percent if it were calculated on the selling price instead of the cost price? (Correct to one decimal! place)
Answer & explanation
Correct answer: option 2
30% = \(\frac{3}{10}\)
Let CP = 10
Then, SP = 13
Profit = 13 - 10 = 3
Profit % if profit calculated on selling price = \(\frac{3}{13}\) × 100 = 23.1%