Question : $\frac{2}{5}$ of the marked price of an item is equal to $\frac{4}{7}$ of its cost price. If a discount of 15% is given on its sale, then what is the approximate profit percentage earned?
Option 1: 19.84%
Option 2: 23.63%
Option 3: 21.43%
Option 4: 14.28%
Correct Answer: 21.43%
Solution :
$\frac{2}{5}$ × marked price = $\frac{4}{7}$ × cost price
Marked price = $\frac{10}{7}$ × cost price
Discount = 15% of marked price
= $\frac{15}{100}×\frac{10}{7}$ × cost price
Selling price = marked price – discount
= $(1-\frac{15}{100})×\frac{10}{7}$ × cost price
= $\frac{85}{100}×\frac{10}{7}$ × cost price
= $\frac{85}{70}$ × cost price
Profit = selling price – cost price
= $\frac{85}{70}$× cost price – cost price
= $\frac{85-70}{70}$× cost price
= $\frac{15}{70}$× cost price
Profit percentage = $\frac{\text{profit}}{\text{cost price}}×100$
= $\frac{15}{70}×100$
= 21.43%
Hence, the correct answer is 21.43%.
Related Questions
Know More about
Staff Selection Commission Multi Tasking ...
Answer Key | Cutoff | Selection Process | Preparation Tips | Eligibility | Application | Exam Pattern
Get Updates Brochure
Your Staff Selection Commission Multi Tasking Staff Exam brochure has been successfully mailed to your registered email id “”.
