Arithmetic

Profit & Loss

Easy

If selling price of an article is $\frac{7}{6}$ of its cost price. Then the profit percentage in the transaction is:

$8\frac{1}{3}$ %

$8\frac{2}{3}$ %

$16\frac{2}{3}$ %

$16\frac{1}{3}$ %

✅ Correct Option: 3

Given: Selling Price (SP) = $\frac{7}{6}$ of Cost Price (CP)

Let Cost Price (CP) = 6

Selling Price (SP) = $\frac{7}{6}$ of CP

SP = $\frac{7}{6} \times 6$

SP = 7

Profit = Selling Price - Cost Price

Profit = 7 - 6

Profit = 1

Profit % = $\frac{\text{Profit}}{\text{Cost Price}} \times 100$

Profit % = $\frac{1}{6} \times 100$

Profit % = $\frac{100}{6}$

Profit % = $\frac{50}{3}$

Profit % = $16\frac{2}{3}$ %

Therefore, the profit percentage in the transaction is $16\frac{2}{3}$ %.

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Solution

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CUET General Test Past Year Questions (Topic-Wise)

If selling price of an article is $\frac{7}{6}$ of its cost price. Then the profit percentage in the transaction is: