By selling an article at 7 8 th of marked price a shopkeeper makes 5 profit Marked price is how much...........

Quantitative Aptitude (CDS) Profit and loss

By selling an article at 7/8 th of marked price, a shopkeeper makes 5% profit. Marked price is how much percentage above the cost price?

25%

30%

20%

15%

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Explanation:

Let the cost price be Rs.‘x’
Therefore the selling price is Rs. 105x / 100
This is 7/8th of the marked price.
Therefore marked price = 8/7 * 105x/100 = Rs.1.2 x
Thus, the marked price is 1.2 times the cost price.
Marked price is 20% above the cost price.