Question

If the cost price of an article is 500 and it is sold at a profit of $10%$, what is the selling price?

• A. 525
• B. 540
• C. 550
• D. 600

Hint:

A profit of $10%$ means the selling price is $110%$ of the cost price. $\text{SP} = 500 \times 1.10 = 550$.

Answer 1

The Correct Option is C

Cost Price ($\text{CP}$) $= 500$.
Profit percentage ($\text{P}%$) $= 10%$.
The selling price ($\text{SP}$) is the $\text{CP}$ plus the profit amount.
Profit amount $= 10% \text{ of } 500 = 0.10 \times 500 = 50$.
$\text{SP} = \text{CP} + \text{Profit}$.
$\text{SP} = 500 + 50$.
$\text{SP} = 550$.