The selling price of 7 articles is the same as the cost price of 2 articles. The gain or loss percent is:
Answer & explanation
Correct answer: option 2
ATQ,
⇒ S.P. of 7 = C.P. of 2
⇒ C.P. : S.P. = 7 : 2
⇒ Loss = 7 - 2 = 5
⇒ Loss percentage = \(\frac{5}{7}\) × 100 = 71\(\frac{3}{7}\)%