50 percent of marked price is equal to 70 percent of cost price. If no discount is given, then what will be the profit percentage?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 40%.
Let the marked price be x and the cost price be y
⇒ 50% of x = 70% of y
⇒ 50x/100 = 70y/100
⇒ 50x = 70y
⇒ x/y = 7/5
⇒ x = 7y/5
If no discount is given, the selling price(S.P.) is equal to the marked price (x)
Now,
Profit = Selling Price - Cost price
Profit = 7y/5 - y
Profit = 2y/5
Now,
Profit% = Profit/cost price × 100
Profit% = 2y/5/y × 100 = 40%