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    Question

    The ratio of cost price to the marked price of an

    article is 5:8. The article had been marked above its cost price by Rs. 300. If the article was sold at a discount of Rs. 180, then find the profit/loss percentage incurred.
    A 15% Correct Answer Incorrect Answer
    B 20% Correct Answer Incorrect Answer
    C 24% Correct Answer Incorrect Answer
    D 30% Correct Answer Incorrect Answer
    E 10% Correct Answer Incorrect Answer

    Solution

    Let the cost price and marked price of the article be Rs. 5x and Rs. 8x, respectively
    According to the question,
    8x – 5x = 300
    Or, x = 100
    Therefore, cost price of the article = 5x = Rs. 500
    Marked price of the article = 8x = Rs. 800
    Selling price of the article = 800 – 180 = Rs. 620
    Required profit percentage = {(620 – 500)/500} × 100 = 24%

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