The marked price of an article is ₹882. It is sold for ₹806.40. If there is a loss of 4%, then by what percent above the cost was the article marked?
Answer & explanation
Correct answer: option 4
MP of the article = 882
SP of the article = 806.40
Loss = 4%
CP of the article = 806.40 × \(\frac{100}{96}\) = 840
Required percentage = \(\frac{(882 – 840)}{840}\) × 100 = 5%