Cost price of 10 articles is equal to the selling price of 12 articles. What…
2021
Cost price of 10 articles is equal to the selling price of 12 articles. What is the profit/loss percentage? (Cost price of all articles is same and selling price of all articles is same)
- A.
Loss 20 percent
- B.
Loss 16.66 percent
- C.
Profit 20 percent
- D.
Profit 16.66 percent
Attempted by 42 students.
Show answer & explanation
Correct answer: B
Step 1: Let the Cost Price of 1 article be CP and the Selling Price of 1 article be SP.
Step 2: Formulate the equation based on the given information:
10 × CP = 12 × SP
Step 3: Find the ratio of SP to CP:
SP / CP = 10 / 12 = 5 / 6
Step 4: Analyze the ratio. Since the Selling Price (5 parts) is less than the Cost Price (6 parts), there is a loss.
Loss = CP - SP = 6 - 5 = 1 part.
Step 5: Calculate the Loss Percentage:
Loss% = (Loss / CP) × 100
Loss% = (1 / 6) × 100 = 16.66%
Final Answer: Option B