Selling price and cost price of an article are in the ratio of 7 : 5. What will be the profit/loss percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 40% profit
When SP > CP = Profit.
CP > SP = Loss.
Here SP = 7x, CP = 5x
Profit % = (SP - CP) × 100/CP
Profit % = 2X × 100/5X = 40%.