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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. 240. If the article was sold at a discount of Rs. 180, then find the profit/loss percentage incurred.
      A 12.5% Correct Answer Incorrect Answer
      B 15% Correct Answer Incorrect Answer
      C 20% Correct Answer Incorrect Answer
      D 7.5% Correct Answer Incorrect Answer
      E None of these 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 = 240
      Or, 3x = 240
      Or, x = 80
      Therefore, cost price of the article = 5x = Rs. 400
      Marked price of the article = 8x = Rs. 640
      Selling price of the article = 640 – 180 = Rs. 460
      Required profit percentage = {(460 – 400)/400} × 100 = 15%

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