Question : If the selling price of 7 articles is equal to the cost price of 8 articles, then what is the profit percentage (correct to one decimal place)?
Option 1: 14.3%
Option 2: 13.9%
Option 3: 15.4%
Option 4: 11.7%
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Correct Answer: 14.3%
Solution :
Selling price of 7 articles = cost price of 8 articles
⇒ 7 × SP = 8 × CP
⇒ $\frac{SP}{CP} = \frac{8}{7}$
If SP = 8, then CP = 7
Gain = SP – CP = 8 – 7 = 1
Gain percentage = $\frac{1}{7}×100 $ = 14.3%
Hence, the correct answer is 14.3%.
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