Question 62
When a watch is sold at $$\frac{7}{11}$$ of the marked price, there is a loss of 20%. What is the ratio of the marked price to the cost price of this watch?
Solution
When a watch is sold at $$\frac{7}{11}$$ of the marked price, there is a loss of 20%.
Let's assume the MRP of the watch is 11y.
Selling price of the watch = $$\frac{7}{11}$$ of 11y = 7y
Cost price of the watch = $$\frac{7y}{(100-20)}\times\ 100$$
= $$\frac{7y}{80}\times\ 100$$
= 8.75y
Ratio of the marked price to the cost price of this watch = 11y : 8.75y
= 1100 : 875
= 44 : 35
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