New 55% Off on All Courses - Enroll Now! Click Here

    Question

    The ratio of cost price to the marked price of an

    article is 5:8. The article had been marked above its cost price by Rs. 240. If the article was sold at a discount of Rs. 180, then find the profit/loss percentage incurred.
    A 12.5% Correct Answer Incorrect Answer
    B 15% Correct Answer Incorrect Answer
    C 20% Correct Answer Incorrect Answer
    D 7.5% Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the cost price and marked price of the article be Rs. 5x and Rs. 8x, respectively
    According to the question,
    8x – 5x = 240
    Or, 3x = 240
    Or, x = 80
    Therefore, cost price of the article = 5x = Rs. 400
    Marked price of the article = 8x = Rs. 640
    Selling price of the article = 640 – 180 = Rs. 460
    Required profit percentage = {(460 – 400)/400} × 100 = 15%

    Practice Next