Question

The selling price of 888 articles is equal to the cost price of 1221. Then, the profit/loss percentage is – 

1. 34.5
2. 37.5
3. 35
4. 32.5

Answer 1

Correct Answer - Option 2 : 37.5

CP = Cost Price

SP = Selling Price

Now, SP of 888 articles = CP of 1221 articles

⇒ SP/CP = 1221/888

⇒ SP/CP = 11/8

Here, SP > CP

So, Profit % = [(SP – CP)/CP] × 100

⇒ Profit% = [(11 – 8)/8] × 100

⇒ Profit% = 3/8 × 100

⇒ Profit% = 37.5%