Correct Answer - Option 2 : 10%

**Given**

A person sells an article for Rs 550, gaining 1/10 of its C.P

**Formula used**

Profit = Selling price - cost price

**Calculation**

Let CP = Rs.x

⇒ Gaining = (1/10)x

⇒ x = 550 - (1/10)x

⇒ x + (1/10)x = 550

⇒ (11/10)x = 550

⇒ x = 500

⇒ Profit = 550 - 500 = 50

⇒ Profit % = 50/500 × 100 = 10%

**∴ Profit% are 10%**