On Selling a book at 8/15 of the marked price there is a loss of 20 percent. What will be the ratio of marked price and cost price of the book?
Answer & explanation
Correct answer: option 4
MP SP
15 8
Loss = 20% means the selling price is 80% of the cost price
So, 8 = 80% of the cost price
100% of the cost price = 10
MP : CP = 15 : 10 = 3 : 2