Question
In case of a particular transaction, the profit earned
is 14(2/7)%. What fraction is the cost price of the selling price?Solution
14(2/7)% = 1/7 Let the Cost price of the article be Rs. 7 Profit = Rs. 1 SP of the article = 7 × (8/7) = Rs. 8 Required fraction = 7/8 ∴ Required fraction is 7/8.
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