Question 63
An article is sold at $$14\frac{2}{7}\%$$ profit. What is the ratio of the selling price to the cost price?
Solution
Let assume cost price = 100
profit %=$$14\frac{2}{7}\%$$
profit = $$14\frac{2}{7}$$ = $$\frac{100}{7}$$
Selling price = profit+ cost price
= $$\frac{100}{7}+100$$
= $$\frac{800}{7}$$
the ratio of the selling price to the cost price
= $$\frac{\frac{800}{7}}{100}$$
= $$8:7$$
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