Question : Upon selling an article at $\frac{3}{7}$ of the marked price, a loss of 30% is incurred. What is the ratio between the marked price and the cost price of the article?
Option 1: 48 : 60
Option 2: 49 : 30
Option 3: 25 : 37
Option 4: 50 : 80
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Correct Answer: 49 : 30
Solution :
Let the cost price be Rs. 100
Selling price when sold at 30% loss = Rs. 70
Selling price = $\frac{3}{7}$ of Marked price
⇒ Marked price = $\frac{7}{3}$ of Selling price = 70 × ($\frac{7}{3})$ = $\frac{490}{3}$
Required ratio = $\frac{\frac{490}{3}}{100}=49:30$
Hence, the correct answer is 49 : 30.
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