Question : If the cost price of an article is 80 percent of its selling price, then what is the profit percentage?
Option 1: 50%
Option 2: 33.33%
Option 3: 25%
Option 4: 30%
Correct Answer: 25%
Solution :
Given:
The cost price of an article is 80% of the selling price.
Let the selling price be $x$.
⇒ Cost price = $0.8 × x$ = $0.8x$
Profit percentage
$=\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100$
$=\frac{(x - 0.8x)}{0.8x} × 100$
$=\frac{0.2x}{0.8x}× 100$
$=25$%
Hence, the correct answer is 25%.
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