The question is:
By selling 33 meters of cloth, a shopkeeper gains the cost of 11 meters. Find his gain percentage.
- 33 1/3%
- 33 1/2%
- 34 1/4%
The answer provided by the book says it's the first one.
But if he gains the cost of 11 meters shouldn't the profit be calculated as a percentage of cost price, which would turn out to 22 meters. Below is what I think
(11/22) * 100
The cost price should be 22 because the profit of 11 meters is subtraccted from the selling price of 33 meters.
The question might be wrong and that is why I am seeking help.