To find the percentage of profit, we can use the following formula:
Profit percentage = (Profit / Cost price) * 100
We can express the ratio of the cost price to the selling price as a fraction. Since the ratio is 10:11, the fraction representing the ratio is 10/11.
We can then use this fraction to find the profit and the cost price. The profit is the difference between the selling price and the cost price, so:
C.P = 10x
S.P = 11x
Profit = S.P - C.P
Profit = 11x - 10x = x
Profit percentage = ( x /10x )*100
Profit percentage = 10%