If the discount on an item is increased by 2%, then the profit on it gets decreased from 33.33% to 30%. Find the ratio of marked price and cost price for this item.
This questions was previously asked in
RRB PO Prelims (21 August 2022 Shift1)
Explanation:
Correct option:2
Solution:
Let us assume the CP be Rs.30
So, when the profit is 33.33%,
SP = (4/3) x 30 = Rs.40
So, when the profit is 30%,
SP = (130/100) x 30 = Rs.39
So, 2% of MP is the same as Rs.1
Hence, 100% of MP means Rs.50
Hence, the ratio of MP:CP = 50:30 = 5:3
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By: Parvesh Mehta