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The marked price of an article is 40% above its cost price. If its selling price is \(73 \frac{1}{2}\%\) of the marked price, then the profit percentage is:
1. 3.1%
2. 2.4%
3. 2.7%
4. 2.9%

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Correct Answer - Option 4 : 2.9%

Given:

The marked price of an article is 40% above its cost price. Its selling price is \(73 \frac{1}{2}\%\) of the marked price.

Concept Used:

Profit = Selling price - Cost price

Calculation:

Let, the Cost price of the article be 100

Then marked price of the article is (100 + 40) = 140

Selling price is \(73 \frac{1}{2}\%\) of the marked price

⇒ 147/2 % of the marked price

Selling price is {140 × (147/2)}/100

⇒ (140 × 147)/200

⇒ 102.9

Profit = (102.9 - 100)

⇒ 2.9

Profit percentage is (2.9 × 100)/100

⇒ 2.9%

∴ The profit percentage is 2.9%.

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