Question
The total cost price of 12 articles is the same as the
total selling price of 7 articles. Calculate the percentage profit made on the sale of each article, rounded to two decimal places.Solution
Let the cost price of an article = Rs. '100x' Then, cost price of 12 articles = 12 X 100x = Rs. '1200x' Selling price of 1 article = 1200x ÷ 7 ~ Rs. '171.42x' So, percentage of profit earned on selling 1 article = {(171.42x - 100x)/100x} X 100 = 71.42%
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