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%.