Profit Loss is a relatively easy topic and quite often gets tested in these kinds of entrance tests.

**Question**

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If
the cost price of 12 articles is the same as the selling price of 10 of
those articles, what percent profit does the trader make?

1. 16.66%

2. 20%

3. 25%

4. 16.66% loss

5. 20% loss

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**Correct Answer**: Choice (2) - 20% profit.

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**Explanatory Answer**

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Let the cost of 12 articles = Rs.x

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Hence, the cost of 1 article = x/12

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So, the selling price of 10 articles = Rs.x

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Hence, the selling price of 1 article = x/10

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The quickest way to solve this question is to assume some value for x. Assume x to be a number that is divisible by 12 and 10.

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So, x should be a multiple of 12 and 10. Take x to be 120.

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So, the cost of 12 articles = 120. Therefore, the cost of 1 article = Rs.10

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The selling price of 10 articles = 120. Therefore, the selling price of 1 article = Rs.12.

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The profit on 1 article = Selling price - Cost price = 12 - 10 = Rs.2

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Percent Profit = (Profit / CP) * 100 = (2/10)*100 = 20%