If the selling price of 7 articles is equal to the cost price of 8 articles, then what is the profit percentage (correct to one decimal place)?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 14.3%
The selling price of 7 articles is equal to the cost price of 8 articles
SP of 7 articles = CP of 8 articles.
SP/CP = 8/7
Let SP = 8 units.
CP = 7 units
Profit = 1 units.
Profit% = 1/7 × 100 = 14.28% = 14.3%