If there is a profit of 20% on the cost price of an article, the percentage of profit calculated on its selling price will be:
If there is a profit of 20% on the cost price of an article, the percentage of profit calculated on its selling price will be:
[A]$latex 16\frac{2}{3}\%&s=1$
[B]$latex 20$
[C]$latex 24$
[D]$latex 8\frac{1}{3}\%&s=1$
$latex \mathbf{16\frac{2}{3}\%}&s=1$
If the cost price is 100 Rs. Then selling price = 120 Rs.
and gain = 20 Rs.
Required gain % $latex = \frac{20}{120}\times 100&s=1$
$latex = \frac{50}{3} = 16\frac{2}{3}\%&s=1$
Hence option [A] is the right answer.