If cost price of an article is 30% less than the selling price of that article, then what will be the profit percentage?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 42.86%
Let selling price of an article be 100 Rs
Cost price = 100 - 30% of 100 = 100 - 30 = 70Rs.
Profit % = (SP - CP) × 100/CP
Profit % = (100 - 70) × 100/70
Profit % = 3000/70 = 42.86%