The marked price of 55 items was equal to the cost price of 99 items. The selling price of 56 items was equal to the marked price of 35 items. Calculate the profit or loss percentage from the sale of each item.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 12.5% profit.
Let the marked price, cost price and selling price of the items be MP, CP and SP respectively.
Given, 55MP = 99CP
⇒ CP : MP = 5 : 9
Also, 56SP = 35MP
⇒ MP : SP = 8 : 5
Now, the ratio of CP : MP : SP = 40 : 72 : 45
Required profit percentage = [(45 - 40)/40] × 100
⇒ 100/8 = 12.5%