The marked price of an article is 40% above its cost price. If its selling price is 73% of the marked price, then the profit percentage is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 2.9%
Concept
Basic Profit and loss concept
Application
Let the C.P of the article = 100 units
M.P of the article = 100 x 140 / 100 = 140 units
Selling Price is 147 / 200 of the M.P
Therefore S. P = 147 / 200 x 140 = 102.9
Profit % = S.P - C.P / CP x 100
= 102 .9 - 100 / 100 x 100
= 2.9 %