Question

The selling price of 10 pencils is equal to the cost price of 11 pencils. What is the profit percentage

Answer 1

SP of 10 pencils = CP of 11 pencils

Let CP of each pencil be rs.1

So, CP of 10 pencils = Rs.10

SP of 10 pencils = Rs.11

SP is greater than CP

So, there is a profit.
Profit=11-10=rs.1

Profit per cent = $\frac{\text{Profit}}{\text{CP}}\times 100$
$=\frac{1\times 100}{10}$
$=10\%$