The Profit percentage on the transaction is 16.667%.
<h3>How to calculate the Profit percentage?</h3>
When the selling price and the cost price of a product are given, the profit can be calculated using the formula,
Profit = Selling Price - Cost Price.
After this, the profit percentage formula that is used is,
Profit percentage = (Profit/Cost Price) × 100.
Given that the cost price of 21 articles is equal to the selling price of 18 articles. Therefore, we can write,
The cost price of 21 articles = x
Cost price of a single article = x / 21
The selling price of 18 articles = x
The selling price of a single article = x/18
Profit = (Selling price - Cost price)/Cost price × 100%
= [(Selling price/cost price) - (Cost price/Cost price)] × 100%
= [(Selling price/cost price) - 1] × 100%
= { [ (x/18) / (x/21) ] - 1 } × 100%
= [(21/18) - 1] × 100%
= (1.16667 - 1) × 100%
= 0.16667 × 100%
= 16.667%
Hence, the Profit percentage on the transaction is 16.667%.
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