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The cost price of an article is 30 percent less than its selling price. Find, the profit or the loss as percent.

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41 \frac{6}{7} % loss

40 \frac{6}{7} % loss

43 \frac{6}{7} % profit

42 \frac{6}{7} % profit

answer is D.

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Detailed Solution

Suppose the selling price is x.
Then,
Cost price CP = x – 30% of x

= x - (\frac{30}{100}) \times x = x - (\frac{3}{10}) \times x = x - \frac{3 x}{10} = \frac{7 x}{10}

Here, S.P. > C.P, which means there is a profit.
Here,
Profit = SP – CP

= x - \frac{7 x}{10}

= \frac{3 x}{10}

So, the profit as percent,

Profit % = \frac{Profit}{CP} \times 100

= \frac{\frac{3 x}{10}}{\frac{7 x}{10}} \times 100 = (\frac{3 x}{10} \times \frac{10}{7 x}) \times 100 = \frac{3}{7} \times 100

= \frac{300}{7}

= 42 \frac{6}{7} %

.
Option 4 is correct.

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