An article is sold for 30 percent loss. The value of discount given is equal to the (7/10) of the selling price. Cost price of the article is what percent of its marked price?
Show answer & explanation
Correct answer: B
Explanation
Loss = 30%
Selling Price = 70% of Cost Price
Let Selling Price = ₹100.
Cost Price = 100 × 100/70 = ₹1000/7
Discount = 7/10 of Selling Price
= 100 × 7/10 = ₹70
Marked Price = 100 + 70 = ₹170
Cost Price as a percentage of Marked Price = (1000/7) ÷ 170 × 100
= 10000/119 = 84.03%