The marked price of an article is Rs. 315. It is sold for Rs. 288. If there is a loss of 4%, then by what percent above the cost is the article marked?
Show answer & explanation
Correct answer: A
Explanation
Correct Answer is option 1 i.e. 5
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Concept |
Understanding |
Application |
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CP = SP/[(100 – loss)/100] |
MP = Rs. 315 SP = Rs. 288 Loss = 4% |
Since loss is 4%: CP = 288/0.96 = Rs. 300 Hence, Markup = [(315 – 300)/300] × 100 = 5% |