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The ratio between the sale price and the cost price of an article is 7:5. What is the ratio between the profit and the cost price of that article?

Correct answer: E. None of these

  • A. 2:7
  • B. 5:2
  • C. 7:2
  • D. Data inadequate
  • E. None of these

Explanation

With selling price : cost price = 7:5, the profit is 7 - 5 = 2 parts. Therefore profit : cost price = 2:5, which is not listed, so the answer is none of these. The likely mistake is 2:7, which compares profit with the selling price instead of with the cost price.

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About Profit and Loss

Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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