The marked price of an article is (8/3) of the cost price. Its selling price is (5/8) of the marked price. What is the profit percentage?
Show answer & explanation
Correct answer: A
Explanation
Let Cost Price = 3
Marked Price = (8/3) × 3 = 8
Selling Price = (5/8) × 8 = 5
Profit = 5 - 3 = 2
Profit Percentage = 2/3 × 100= 200/3%