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Question 62
Selling price and cost price of an article are in the ratio of 7 : 5. What will be the profit/loss percentage?
Solution
Let the Selling Price and Cost Price of the article be Rs.7x and Rs.5x respectively
Then, Profit percentage = $$\dfrac{7x-5x}{5x}\times100 = \dfrac{2x}{5x}\times100 = 40$$%
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