Question 52

What per cent selling price would be 34% of the cost price if the gross profit is 26% of the selling price?

Solution

Let the selling price of the article = Rs. 100

Therefore,

Profit = Rs. 26

So, Cost price of the article = S.P. - Profit

= 100 - 26 = Rs. 74

So,

Required % = (34 x 74)/100

= 25.16%

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