A trader gains 10% after selling an item at a 15% discount on the marked price. The ratio of cost price and the marked price is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 17:22
Given that
The gain % = 10%
Discount on marked price = 15%
Formula used
C.P./M.P. = (100 - D)/(100 + P)
C.P./M.P. = (100 - 15)/(100 + 10)
C.P./M.P. = 85/110 = 17/22
Hence, The ratio of cost price to the marked price is 17:22.