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Question
The cost price of an article is 30 percent less than its selling price. Find, the profit or loss as a percent.
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Solution
Let S.P. of the article = Rs.100
30% of S.P. = Rs.`30/100xx100` = Rs.30
∴ C.P. of the article = 100 − 30 = Rs.70
Profit = S.P. − C.P.
= Rs.100 − Rs.70 = Rs.30
Profit % =`"Profit"/"C.P."xx100`
`=30/70xx100=300/7%=42 6/7%`
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