The marked price of an article is (7/5) of the cost price. Its selling price is (6/7) of the marked price. What is the profit percentage?
Show answer & explanation
Correct answer: A
Explanation
Let cost price = 5x
Face value = 7x
Selling price = 6/7 × 7x = 6x
Profit = 6x – 5x = x
Profit Percentage = (x / 5x) × 100= 20%