An article is sold for 40 percent profit. The value of discount given is equal to (5/14) of the marked price. Cost price of the article is how much percent less than its marked price?
Show answer & explanation
Correct answer: A
Explanation
Let the marked price = 98
Discount = 98 × 5 / 14 = 35
Selling price = 98 - 35 = 63
Cost price at 40% profit = 63 / 1.4 = 45
Difference between marked price and cost price = 98 - 45 = 53
Percentage difference = 53 / 98 × 100= 54.08%