The marked price of an article is Rs. 400. It is sold for Rs. 300. If there is a loss of 15%, then by what percent above the cost is the article marked?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 13.33%.
The marked price of an article = Rs. 400
Selling price = Rs. 300
Loss = 15%
Cost Price = Selling Price × 100/(100 - loss%)
Cost price = 300 × 100/(100 - 15)
= 352.94
Required percentage = (400 - 352.94)/352.94 × 100 = 13.33%