Question : 35 percent of the marked price is equal to 40 percent of the cost price. If no discount is given, then what will be the profit percentage?
Option 1: 12.5 percent
Option 2: 25 percent
Option 3: 14.28 percent
Option 4: 16.66 percent
Correct Answer: 14.28 percent
Solution :
Given: 35 percent of the marked price (MP) is equal to 40 percent of the cost price(CP).
Profit percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100$
According to the question,
$MP \times \frac{35}{100}=CP\times \frac{40}{100}$
⇒ $\frac{MP}{CP}=\frac{8}{7}$
No discount was given.
So, MP = Selling price(SP) = 8
Profit percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100=\frac{8–7}{7}\times 100=\frac{1}{7}\times 100=14.28\%$
Hence, the correct answer is 14.28%.
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