On selling a book at 8/15 of the marked price there is a loss of 20 percent. What will be the ratio of marked price and cost price of the book?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 3 : 2.
Selling price = 8/15 of marked price, and loss = 20%
Selling price = 0.80 × Cost price
(8/15) × Marked price = 0.80 × Cost price
Marked price = 1.5 × Cost price
Thus, the ratio of marked price to cost price is 3:2