2 Views

Question : 40 percent of the cost price of an article is equal to 24 percent of its selling price. What is the profit percentage?

Option 1: 60 percent

Option 2: 50 percent

Option 3: 66.66 percent

Option 4: 52.5 percent


Team Careers360 9th Jan, 2024
Answer (1)
Team Careers360 10th Jan, 2024

Correct Answer: 66.66 percent


Solution : Let the cost price of the article as CP and the selling price as SP.
Given that 40% of CP is equal to 24% of SP.
⇒ 0.40 × CP = 0.24 × SP
⇒ $\frac{SP}{CP} = \frac{0.40}{0.24}=\frac{5}{3}$
Let SP be $5x$ and CP be $3x$.
We know, Profit percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100=\frac{5x-3x}{3x}×100= \frac{2}{3} \times 100= 66.66\%$
Hence, the correct answer is 66.66 percent.

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books