Question
Download Solution PDFThe marked price of an article is 40% above its cost price. If its selling price is \(73{1 \over 2}\)% of the marked price, then the percentage profit is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
The marked price of an article is 40% above its cost price.
Its selling price is \(73{1 \over 2}\)% of the marked price.
Concept used:
SP = CP + profit
Profit is calculated on the cost price and discount on the market price.
Calculation:
Let the CP is = 100
The market price is = 140
The selling price will be,
⇒ 140 × 147/200 = 102.9
The profit percentage will be,
⇒ 102.9 - 100 = 2.9 %
∴ The correct option is 1
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