Question Details

If the cost price of 24 articles is equal to the selling price of 15 articles, then find the percentage of profit.

Options

A

60%

B

40%

C

55%

D

71%

Show Answer

Correct Answer :

Option A

60%

60%

Solution :

The correct option is 60%.

Let the cost price (CP) of one article be CP and the selling price (SP) of one article be SP.

According to the question, the cost price of 24 articles is equal to the selling price of 15 articles. Therefore, we can write:
24×CP=15×SP

From this relation, we can find the ratio of the selling price to the cost price:
SPCP=2415

Simplifying the fraction by dividing both the numerator and the denominator by their greatest common divisor, which is 3, we get:
SPCP=85

This ratio indicates that if the cost price (CP) is 5 units, the selling price (SP) is 8 units.

The profit earned is calculated as:
Profit=SP-CP
Profit=8-5=3 units

Now, we can find the profit percentage using the formula:
Profit Percentage=ProfitCP×100

Substituting the values into the formula:
Profit Percentage=35×100

Simplifying further:
Profit Percentage=3×20=60%

Thus, the profit percentage is 60%.

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