Correct Answer - Option 3 :
\(6\dfrac{1}{4}\%\)
Given:
The selling price of 16 water bottles is equal to the cost price of 17 water bottles
Formula used:
Profit% = (Profit/C.P.) × 100
Calculation:
Let the C.P. of each water bottles be x
Then C.P. of 17 water bottles = 17x
According to the question, we have
S.P. of 16 water bottles = 17x
So, profit = C.P. of one water bottle = x
According to the formula, we have
Profit% = (x/16x) × 100 = 100/16 = \(6\dfrac{1}{4}\%\)
∴ The required profit percent is \(6\dfrac{1}{4}\%\).