ABC26GN2665 · Profit and Loss
Subject: General Aptitude · Chapter: Profit and Loss · Exam: 2008 · Marks: · Difficulty:
A shopkeeper purchases 11 knives in ₹ 10 and sells them at the rate of 10 knives for ₹ 11. He earns a profit of
(a)11\%
(b)15\%
(c)20\%
(d)21\%
Answer
Explanation
Suppose, number of knives bought = L.C.M. of 11 and $10=110$. $$\begin{aligned} & \text { C.P. of } 110 \text { knives }=₹\left(\frac{10}{11} \times 110\right)=₹ 100 . \\ & \text { S.P. of } 110 \text { knives }=₹\left(\frac{11}{10} \times 110\right)=₹ 121 . \\ & \therefore \text { Profit } \%=\left(\frac{21}{100} \times 100\right) \%=21 \% . \end{aligned}$$
Explanation as extracted from the printed page; notation may be imperfect.
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