Multiple choice

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

  1. $41\displaystyle \frac {6}{7}\%$ loss
  2. $40\displaystyle \frac {6}{7}\%$ loss
  3. $43\displaystyle \frac {6}{7}\%$ gain
  4. $42\displaystyle \frac {6}{7}\%$ gain
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let SP = 100. CP is 30% less, so CP = 70. Profit = SP - CP = 30. Profit percentage = (Profit / CP) * 100 = (30 / 70) * 100 = 300 / 7 = 42 6/7%.

AI explanation

Using the percentage comparison method, let the selling price be Rs 100, making the cost price Rs 70 since it is 30 percent less. The profit is calculated as 100 minus 70, which equals 30. Applying the profit percentage formula, (30 divided by 70) times 100 equals 42 6/7 percent gain.

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