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:

For profit, multiply cost price by \(1 + \frac{\%}{100}\).

Answer 1

The Correct Option is C

Step 1: Profit formula: \[ \text{Selling Price} = \text{Cost Price} \times \left(1 + \frac{\text{Profit \%}}{100}\right) \] Step 2: Substitute values: \[ \text{SP} = 500 \times \left(1 + \frac{10}{100}\right) \] \[ = 500 \times 1.10 = 550 \]