30 percent of marked price is equal to 50 percent of the cost price. If no discount is given, then what will be the profit percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 66.67 percent.
Profit% = [(SP - CP)/CP] × 100
Where, SP = Selling price, CP = Cost price
According to the question;
⇒ 30% of MP = 50% of CP
⇒ MP : CP = 5 : 3
Let the Marked price and cost price be 5x and 3x.
If there is no discount, MP = SP
⇒ Profit% = [(5x - 3x)/3x] × 100
⇒ Profit% = 66.67%