Marked price and cost price of an article are in the ratio 7:4, respectively. If the article was sold at discount of 20%, then find the gain percentage.
Let the marked price of the article be Rs. '7x' So, cost price of the article = 7x X (4/7) = Rs. '4x' Selling price of the article = 7x X 0.8 = Rs. '5.6x' So, gain earned = 5.6x - 4x = Rs. '1.6x' So, gain percentage = (1.6x/4x) X 100 = 40%
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