Answer-The cost price (CP) of an article is Rs. 700, and it is marked at a price that is 'p%' above the CP....

ATQ, CP of the article Rs.700 MRP of the article 100 p of 700 700 7p SP of the article 700 7p 245 455 7p Quantity I Case 1 When there is profit on the articleCP lt SP. 455 7p 700 35 7p 280 p 40 Case 2 When there is loss on the item CP SP. 700 455 7p 35 7p 210 p 30 Possible values of p 30 and 40 Quantity II New SP of the article when initially there is loss 455 7p Rs.665 Minimum SP of the article, when it is sold for Rs.q more 665 210 Rs.875 Minimum profit 875-700700 100 25 Which means profit will be more than 25. Hence, relationship between Quantity I and Quantity II cannot be determined.

Question

The cost price (C

P of an article is Rs. 700, and it is marked at a price that is 'p%' above the CP. The article is sold after offering a discount of Rs. 245, so that the difference between the cost price (C
P and selling price (S
P is Rs. 35. Quantity I: Determine the value of 'p'. Quantity II: Suppose the article is sold for an additional Rs. 'q', find the profit percentage earned on selling the article. Assume that the article was initially sold at a loss and that q≥210.