70% of the cost price of an article is equal to 50% of its selling price. The percentage of profit or…
0.70C=0.50S gives S=1.4C. Profit=(S−C)/C×100=40%. It is not a loss, and 20% profit uses the difference between the stated percentages rather than solving for the selling…
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70% of the cost price of an article is equal to 50% of its selling price. The percentage of profit or loss on the cost price is
Answer and explanation
Correct answer C
0.70C=0.50S gives S=1.4C. Profit=(S−C)/C×100=40%. It is not a loss, and 20% profit uses the difference between the stated percentages rather than solving for the selling price.
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