Difficulty: Easy
Correct Answer: 10%
Explanation:
Introduction / Context:
The original stem reads “purchased at 3/10th of its selling price and sold it at 10% more than its CP,” which is self-contradictory if “selling price” refers to the actual final selling price. Applying the Recovery-First Policy, we retain the computable and standard portion: she sold the item at 10% more than cost price. We then answer for gain percentage based on that corrected, solvable interpretation.
Given Data / Assumptions:
Concept / Approach:
Profit% on cost is computed as (SP − CP)/CP * 100. With SP = 1.10 * CP, the profit% follows immediately.
Step-by-Step Solution:
SP = 1.10 * CPProfit% = (1.10CP − CP)/CP * 100 = 10%
Verification / Alternative check:
For CP = 100 (representative): SP = 110; profit = 10; profit% = 10/100 * 100 = 10%.
Why Other Options Are Wrong:
15%, 5%, 9%: Do not match the direct 10% uplift over cost.
Common Pitfalls:
Taking the ambiguous phrase “3/10th of its selling price” at face value with the final SP, which would contradict the stated 10% uplift.
Final Answer:
10%
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